On August, 2019, KBO consigned to UFO 10 laptops costing P15,000 each, paying freight charge of P15,000. At the end of the month, UFO reported sales of 6 handbags at P30,000 each and incurred expenses...

Extracted text: On August, 2019, KBO consigned to UFO 10 laptops costing P15,000 each, paying freight charge of P15,000. At the end of the month, UFO reported sales of 6 handbags at P30,000 each and incurred expenses of P12,500 and remitted the net proceeds due to KBO after deducting a 20% commission on the sales price. 1. How much net income did KBO realize in August on the consignment? A. 37,500 income C. 33,500 loss B. 32,500 income D. 32,500 loss