You were assigned to do the audit of Bill Company financial statements and had observed the following:

• Accrued interest expense of Php 15,000 was not recorded at the end of 2017.
• Accrued rent receivable of Php 20,000 was not recorded at the end of 2017
• The company paid a 12-month insurance premium of Php 36,000 effective March 1, 2017. The entire amount was debited to an expense account and no adjustment was made at the end of 2017.
• The company leased a portion of its building for Php 30,000. The term of the lease is one year ending April 1, 2018. Collection of rent was credited a rent revenue account. At the end of 2017, no entry was made to take up the unearned portion of the amount collected.

The following data were extracted from its financial statements:

	2017	2018
Net Income	Php 200,000	Php 160,000
Working Capital	Php 180,000	Php 260,000
Retained Earnings, End of year	Php 200,000	Php 360,000

Required: Compute for the following adjusted balances:

1. Net Income, 2017
2. Working Capital, end 2017
3. Retained Earnings, end of 2017
4. Net Income , 2018
5. Working Capital, end 2017
6. Retained Earnings, end of 2017
7. Adjusting Entries assuming errors were discovered in (a) 2017; (b) 2018 and (c) 2019