The following information pertains to A Enterprise, a calendar-year sole proprietorship engaged in retail, which maintained its books on the cash basis during the year. A's trial balance as of December 31, 2021 is as follows: Cash Accounts Receivable, 12/31/2020 Inventory, 12/31/2020 Furniture and Fixtures Machinery Accumulated Depreciation, 12/31/2020 Accounts Payable, 12/31/2020 Capital, 12/31/2020 Sales Purchases Salaries Payroll taxes Insurance Rent Utilities Living expenses Total DEBIT 204,800 81,000 310,000 1,418,400 300,000 2,684,880 835,200 24,800 41,760 164.100 126,000 130,000 6,320,940 CREDIT 259,200 170,000 1,190,140 4,701,600 6,320,940 A has developed plans to extend into wholesale and is in the process of negotiating a bank loan to finance the expansion. The bank is requesting 2021 financial statements prepared on the accrual basis of accounting. The following additional information were provided: Amounts due from customers totaled P140,800 at December 31, 2021. An analysis of the above receivables revealed that an allowance for credit losses of P18,240 should be provided. Unpaid invoices for inventory purchases totaled P152,500 at December 31, 2021. The inventory totaled P436,800 based on a physical count of the goods at December 31, 2021. The inventory was priced at cost, which approximates market value. A has an outstanding operating lease for which the entity paid an advance one year rent of P144,000 on October 1, 2020. On October 1, 2021, the lease was renewed for an amount of P164,100. . On April 1, 2021, A paid P41,760 to renew its comprehensive insurance coverage for 1 year. The premium on the previous policy, which expired on March 31, 2021, was P49,920. . . On May 1, 2021, A bought machinery at a cost of P300,000 and have an estimated useful life of 20 years. No provision for depreciation or amortization has been recorded. Depreciation on furniture and fixtures was P81,600 for 2021. Accrued expenses at December 31, 2020 and 2021, were as follows: 2020 Utilities 6,480 Payroll taxes 6,160 Total 12,640 A is being sued for P640,000. A's attorney believes that an unfavorable outcome is probable and that a reasonable estimate of the settlement is P600,000. The salaries expense account includes P20,000 per month paid to the proprietor, who also receives P2,500 per week for living expenses. 2) Total noncurrent assets 2021 Based on the information above, determine the amount of the following as of December 31, 2021, under the accrual basis: 1) Total current assets 3) Total liabilities 4) Net income (loss) if loss, enclose in "()" or add a "-" sign 8,400 8,320 16,720