The accumulated profits and losses of Gabby Company shows he following postings: Debit Stock Dividends Php 500,000 Uninsured fire loss 175,000 Prior year's errors 224,000 Reserved for bond redemption 300,000 Credit Beginning balance Php 1,120,000 Net income for the year 760,000 Excess of par value 250,000 Gain on sale of treasury shares 150,000 Ending Balance Php 1,081,000 Required: 5. What is the balance in Accumulated Profits account to be reported in the company's year end financial statements.ANSWER WHAT IS REQUIRED. THANK YOU. COMPLETE SOLUTION PLEASE