PQR Co. started operations in November. PQR Co. has estimated its activity for December, its second month according to the following data:

(1) Sales are expected to be P392,000.

(2) Merchandise is sold at forty percent above cost.

(3) Merchandise inventory was P250,000 in November 30 and PQR Co. intends to maintain P140,000 worth of inventory in December 31.

(4) The selling and administrative expenses are budgeted at P92,000 for the month. Included in this amount is depreciation expense of P12,000. PQR has the following company policy with its trading partners:

(1) There are no credit sales.

(2) All purchases of goods and services are for cash.

19. How much is budgeted net income?

20. How much is budgeted cash disbursement?