The following data were made available: December 31, 20PY Total Assets Total Liabilities Net Assets (Capital) For Single Proprietorship or Partnership: Additional Investments Withdrawals P1,000,000 600,000 400,000 December 31, 20CY P2,000,000 1,400,000 600,000 500,000 600,000 For Corporation: Retained Earnings 100,000 200,000 Capital Stock 300,000 400,000 Dividends declared and paid 300,000 Required: a) Determine the net income for 20CY for a Single Proprietorship or Partnership. b) Determine the net income for 20CY for a Corporation.