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What amount of the above-listed items should be classified

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The following items were among those that were reported on Nen Co.'s income statement for the year ended December 31, 2018:

Legal and audit fees P 130,000
Rent for office space 180,000
Interest on inventory floor plan 210,000
Loss on abandoned equipment used in operations 35,000

The office space is used equally by Nen's sales and accounting departments.

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

a. P220,000.
b. P255,000.
c. P310,000.
d. P430,000.

Reference no: EM132879387

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