Use the following information for the next two (3) questions: Jaybo Co. incurred the following expenses below: Interest expense 12 Cost of inventories sold 300 Insurance expense 50 Advertising expense...

Please show solutions. and thank you!

Extracted text: Use the following information for the next two (3) questions: Jaybo Co. incurred the following expenses below: Interest expense 12 Cost of inventories sold 300 Insurance expense 50 Advertising expense 10 Freight out Freight in Loss on sale of equipment 5 2 1 Legal and other professional fees 6. Rent expense (one half occupied by sales department) Sales commission expense 7 Doubtful accounts expense 8. What total amount of expense classified as distribution costs or selling expenses? A. 64 В. 24 C. 26 D. 22 What total amount of expense classified as administrative expenses? A. 64 В. 16 С. 56 D. 66 Assuming Jaybo earned sales revenue amounting to P500 during the current year, what is the net income? A. 95 В. 97 C. 200 D. 66.5