Zeta Corp. established an agency in Baguio City. For the first month of operatios, the agency transactions were

summarized as follows

Receipts from sales 350,000

Disbursements for:

Purchases 400,000

Rent 20,000

Advertising supplies 10,000

Salaries and commissions 70,000

Other expenses 5,000

At the end of that month, the agency had P100,000 of receivables and P50,000 of payables. Also, there were P90,000 of unsold

merchandise and P6,000 of unused advertising supplies on hand. What is the results of operations of the Baguio City agency?

A. No profit, no loss

B. P25,000 profit

C. 9,000 loss

D. 155,000 loss