Question 4 You audited the financial statements of PIS Corp. for the first time in 2021. The company started its operation in early 2019. Upon investigation, you discovered the following information: The company reported the net income at P104,000, P140,000 and P160,000 in 2019, 2020, and 2021, respectively. The company consistently omitted the following: 2019 2020 2021 Prepaid insurance 2,000 4.000 6,000 Accrued salaries 7.500 6.200 8,300 Unearned rent 5,000 6,000 7,000 Deliveries of merchandise to customers at December 31 of each year end were recorded as sales upon collection the following year. The corresponding sales price of the said deliveries were P15,000, P12,000 and P14,000 in 2019, 2020, and 2021, respectively