Taba Ching Ching Biscuits manufactures and sells boxed coconut Cookies. The biggest market for these cookies are as gift that college students buy for their business teachers. There are 100 cookies per box. The following income statement shows the results of the first year of operations. This statement was the one included in the company's annual report to the stockholders. Sales (400 boxes at P12.50) P 5,000.00