19. Fuschia Company is a calendar year corporation. Its financial statements for the years 2018 and 2017 contained errors as follows: 2017 P400,000 understated 200,000 overstated 350,000 overstated 2018 Ending inventory Depreciation expense 500,000 understated Rent income P300,000 overstated ? Unearned rent income 350,000 understated Assume that no correcting entries were made at December 31, 2017. By how much will 2018 profit before income taxes be overstated because of the foregoing errors? A. P850,000 B. P800,000 C. P750,000 D. P250,000

While  examining the December 31, 2010 financial statements of Dawn Company, the following errors are discovered:   Inventory at January 1 had been overstated by P50,000.;  Inventory at December 31 was understated by P100,000.;  During 2010, Dawn received a P200,000 cash advance from customer for merchandise to be manufactured and shipped during 2011.  The collection was credited to sales revenue.;  The net income reported on the 2010 income statement before reflecting any adjustments for the above items is P5,000,000.  What is the corrected net income for the year ended December 31, 2010?   Choices; 4,950,000 5,150,000 5,100,000 4,850,000