The account balances shown below were taken from the trial balances submitted to Ecstasy Corp. by its Alabang branch: Petty Cash fund Dec. 31, 2018 Dec. 31, 2019 Accounts Receivable 1,500 1,500 Inventory 43,800 49,140 Sales 37,170 Shipments from HO (140% of cost) 173,180 195,120 Expenses 107,450 136,080 57,930 Accounts written off 51,260 1,220 1,920 All branch collections are remitted to the home office. All branch expenses are paid out of the petty cash fund. When the petty cash fund is replenished, the branch debits appropriate expense accounts and credits Home Office Current. The petty cash is counted every December 31, and its composition were as follows: 12/31/18 12/31/19 Currency and coin P 580 P 860 Expense vouchers 920 640 26. The branch inventory on December 31, 2019 was P41,370. The correct branch net income for 2019 was: P41,0070 a. P3,390 C. b. P3,670 d. P41,350