The retained earnings is undestated by a post-tax amount of Php56,000. Assume a 30% income tax rate, which of the following is the possible cause of such error?	Failure to capitalize a major repair on January 1 amounting to Php100,000 for an equipment that has a remaining life of 5 years
	Failure to recognize expired nsurance amounting to Php80,000 that covers the 9 month penod of the insurance policy during the year
	Goods in transit sold for Php80,000. FOB destination recorded as sales.
	Omission of depreciation expense amounting to Php80,000 The depreciation covers the two previous years that should have been depreciated for Php40,000 annually.
	None of the choices