Yani Inc. is a wholly owned subsidiary of Pakito Corporation. The following are excerpts from the 2008 condensed statements of financial position of the two companies: (see image below) The sales of Pakito to Yani are made on the same terms as those made to others. Determine the net income attributable to Pakito Corporation.

Pakito Corp. Yani Inc. Sales to Xani. P500,000 Sales to others 2,000,000 P1,500,000 Cost of goods sold from Pakito 400,000 Cost of goods sold from others 1,750,000 950,000 Gross profit P750,000 P150,000