PLEASE ANSWER ASAP!!!!!!!!!

In line with your audit with DAVE, Inc. financial statements, the company accountant presented to you the balance sheet that follows. You reviewed the client's accounting records and books based thereon. You discovered that books of accounts are in agreement in the said balance sheet as presented below:

DAVE, INC.
STATEMENT OF FINANCIAL POSITION
December 31, 2021
ASSETS	LIABILITIES AND OWNERS' EQUITY
Cash	P 80,000	Accounts Payable	P 32,000
Accounts Receivable	160,000	Notes Payable	64,000
Notes Receivable	48,000	Capital Stock	160,000
Inventories	400,000	Retained Earnings	432,000
Total	P 688,000	Total	P 688,000

Further review and investigation of the company's books revealed the following omissions and errors which were not corrected during the year of errors:

	2018	2019	2020	2021
Deferred expense	14,400	11,200	8,000	9,600
Deferred income		6,400		4,800
Accrued expense	3,200	1,200	1,600	800
Accrued income		2,000		2,400
Ending inventory - Overstated		112,000	128,000
Ending inventory - Understated	96,000			144,000

No dividends were declared during the years 2018 to 2021 and no adjustments were made to retained earnings. The company's reported the following net income:

Year	2018	2019	2020	2021
Net Income	P120,000	P88,000	P104,000	P120,000

NOTE:Disregard tax implications

1. What is the correct net income/(loss) in 2020?

2. What is the correct net income/(loss) in 2019?

a. (125,600)

b. (119,200)

c. 290,400

d. none of the choices

e. (29,600)