Partial list of accounts from the trial balances of the BERGER CO., BRANCH A,

BRANCH B at December 31, 2019 are as follows:

Home Office BRANCH A BRANCH B

Inventory 1/1/2019 P 34,000 P 5,500 P 8,800

Branch A 100,000

Branch B 81,000

Purchases 500,000

Expenses 120,000 35,000 38,000

Shipment from HO 68,200 41,800

Home Office 94,000 75,000

Sales 500,000 150,000 120,000

Shipment to Branch A 73,700

Shipment to Branch B 46,200

Loading in Branch Invty,1/1/2019 1,300

Additional information:

"SHIPMENT TO BRANCH" accounts were made at billed prices. Rate for

mark-up on 2019 shipments were same as last year for both branch.

There were shipments in transit at year end

INVENTORY ON HAND on December 31, 2019

---Home Office-P31,000---BRANCH A-P 7,260;---BRANCH B-P 8,250.

1. Combined total cost of goods sold is:

2. The merchandise inventory on the combined balance sheet as of

December 31,2019 would be:

3. How much is the total combined net income?