Reference no: EM132790038

An entity incurred depreciation expenses of P200,000 in its administrative department, and P1,500,000 in its sales department; and salaries of P500,000 in its administrative department, and P600,000 in its sales department.

The summary is as follows:

                                       Administrative Department                  Sales Department
Depreciation Expense                    200,000                                1,500,000
Salaries                                       500,000                                      600,000

Problem 1: Present the expenses under the two forms of income statement.