During 2020, the owner paid P200,000 to settle all its loans from the bank. Interest of P5,000 was also settled on December 31, 2020. There was P10,000 interest on loans payable at December 31, 2019.
The owner also made investments in 2020 of P15,000.
1. What is the Net Income of SOLOMONS Corp. for 2020?
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