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Selected accounts of Marshall Company engaged in merchandising business is shown below (all amounts are already adjusted, except inventory): Merchandise Inventory 500,000 Sales 2,607,000 Sales
Selected accounts of Marshall Company engaged in merchandising business is shown below (all amounts are already adjusted, except inventory): Merchandise Inventory 500,000 Sales 2,607,000 Sales Discounts 80,000 Sales Returns & Allowances 29,000 Purchases 1,800,000 Purchase Discounts 16,000 Purchase Returns & Allowances 6,000 Store Salaries Expense 295,000 Office Salaries Expense 150,000 Freight Out 83,000 Marketing Expense 40,000 Office Supplies Expense 37,000 Office Rent Expense 50,000 Depreciation Expense 25,000 Interest Expense 8,000 . Additional information: The company employs the periodic inventory system. Physical count at year-end reveals inventory balance of P410,000. Depreciation expense pertains to office equipment (Property, Plant and Equipment). . What is the net income (net loss)? Give your answer in this format xx,xxx / -xx,xxx if net loss
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