The financial statements of GGG Company contained the following errors $($see image below$).$

An insurance premium of P$330,000$ was prepaid in $2021$ covering the years $2021,2022,$ and $2023.$ The

entire amount was charged to expense in $2021.$ In addition, on December $31,2022,$ a fully depreciated

machinery was sold for P$75,000$ cash, but the sale was not recorded until $2023.$ There were no other

errors during $2021$ and $2022,$ and no corrections have been made for any of the errors. The company

reported a net income of P$150,000$ and P$200,000$ in $2021$ and $2022$ respectively. Ignore income tax

effects.

How much is the adjusted net income in $2021?$

How much is the adjusted net income in $2022?$

How much is the total effect of the errors on the working capital at December $31,2021?$

How much is the total effect of the errors on the working capital at December $31,2022?$

How much is the total effect of the errors on the Retained Earnings at December $31,2022?$