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The income statement of Vita Plus Partnership for the year ended December 31, 2007 appear below: Vita Plus Partnership Income Statement For the year ended

The income statement of Vita Plus Partnership for the year ended December 31, 2007 appear below:

Vita Plus Partnership

Income Statement

For the year ended December 31, 2007

SalesP300,000

Less:Cost of Goods Sold190,000

Gross ProfitP110,000

Less:Operating Expenses30,000

Net IncomeP80,000

Additional Information:

Melon and Dalandan began the year with capital balances ofP40,800 and P112,000, respectively.

On April 1, Melon invested a

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