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What amount of items classified as black income statement

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Reference no: EM132628758

The following items were reported on Black Company's income statement for the year ended December 31, 2017:

Legal and Audit Fees - P170,000; Rent Expense - P240,000; Interest Expense- P 210,000; Loss on Sale of Equipment - P35,000. The office space is used equally by Black's sales and accounting departments.

Problem 1: What amount of the above-listed items should be classified as general and administrative expenses in Black's income statement?

Reference no: EM132628758

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