The following account balances were taken from the books of ABC Company for the month of March. Utilities Expense P 45,100 Salaries Payable 10,900 Unearned Service Income 30,000 Prepaid Rent Expense 120,000 Salaries Expense Office Supplies Expense 85,200 15,500 Accrued Interest Expense 3,750 Compute for the total expenses incurred by ABC Company for the month of March. ABC Company, a computer repair shop provided the following information at the end of its first month of operation: Computer repair services rendered P 160,000 Interest income earned from customer's promissory note 2,500 Payment for the shop's space rental 11,000 Payment for the salaries of employees for the month 19,600 Payment of the shop's electricity bill for the month 12,450 Payment of the telephone bill in the residence of the owner of ABC Company 15,600 Determine the net income (loss) of ABC Company on its first month of operation