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How much is xyz company net income as at december

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Question - XYZ Company has the following accounts and balances as at December 31, 2021:

Cash P121,000

Accounts Receivable P99,000

Land P200,000

Accounts payable P149,000

Salaries payable P60,000

XYZ, Capital P88,280

Service revenue P410,000

Salary expense 256,000

Supplies expense 4,000

Rent expense 26,500

Miscellaneous expense 780

Required - How much is XYZ Company's net income as at December 31, 2021?

Reference no: EM133128327

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