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What is the branch net income reflected

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Question - Hope Corporation started operating a branch on May 1, 2016 with a shipment of merchandise billed at P250,000. Additional shipments during the month were billed at P125,000. The branch returned damaged merchandise worth P10,000. Inter-office shipments are billed uniformly at 125% of cost. On May 31, 2016, the branch reported a net loss of P52,500 and an inventory of P150,000. What is the branch net income (loss) reflected in the combined income statement for May 2016?

Reference no: EM133148048

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