Oscar, Peter and Alan formed a partnership on January 1. Their capital balances on December 31 were P150,000, P200,000 and P250,000, respectively. Partnership agreement provides for the distribution of net profit as follows: monthly salaries for Oscar, Peter and Alan of P2,000, P1,500 and P1,000, respectively; 12% interest based on weighted average capital considering all changes; and residual profit in the ratio of 2:4:4. Operating income for the year was P176,000 with Oscar contributing additional capital of P30,000 on July 1 and Peter contributing P20,000 on August 1. Withdrawals were made by Oscar and Peter on October 1 amounting to P10,000 each, and Alan P20,000 on November 1. What is the amount of Peter's capital balance on December 31 after division of profit? O 313,760 O 268,600 O 261,260 O 200,980