At the start of the period, 2 points MN Business has total assets of P500,000 and total liabilities of P300,000. During the period, the business earned total income of P1,000,000 and incurred total...

At the start of the period, 2 points
MN Business has total assets of
P500,000 and total liabilities of
P300,000. During the period, the
business earned total income of
P1,000,000 and incurred total
expenses of P640,000. No additional
investments or withdrawals were
made by the owner. How much is the
total equity at the end of the period?