The Accumulated profits of Irithel Corp. shows the following debits and credits for the year 2020:

UNAPPROPRIATED ACCUMULATED PROFIT

Date Debit Credit Balance

Jan.1 Balance P565,500

(a) Gain on life insurance policy settlement P50,000 615,500

(b) Write off of intangibles (goodwill) 30,000 585,500

(c) Effect of a change in accounting principle (from

FIFO to weighted average) 100,000 685,500

(d) Loss on sale of treasury stock (There is no APIC from

treasury share transactions)

20,000 665,500

(e) 10% stock dividends on 100,000, P10 par value

shares issued and outstanding (FMV at the same

date at P12.50) 100,000 565,500

(f) 2019 unaccrued employee compensation 160,000 405,500

(g) Premium on ordinary shares issued 65,000 470,500

(h) Stock issuance expenses related to ordinary share

issued above 5,000 465,500

(i) Defaults on ordinary shares subscription. The amount

collected was forfeited in favor of the company.

15,000 480,500

(j) Loss on sale of an equipment 25,000 455,500

(k) Gain on retirement of preference shares at less

than issue price 35,000 490,500

(l) Gain on early retirement of bonds 12,500 503,000

(m) Correction of a prior period error 45,000 548,000

(n) Cash dividends payable 75,000 473,000

(o) Inventory loss from flood 10,500 462,500

(p) Proceeds from sale of donated stocks 37,500 500,000

(q) Revaluation increase in land 150,000 650,000

(r) Appropriations for plant expansion 100,000 550,000

(s) Net income for the period 175,000 725,000

Requirements:

36. How much is the adjusted net income for the year?

37. How much is the correct unappropriated accumulated profits restated beginning balance?

38. How much is the correct unappropriated accumulated profits ending balance?

39. Based on the information above, what is the net/total adjustment to APIC?