Anthodium, Inc. reported the following during the year:
-P400,000 proceeds of life insurance of an officer where Anghodium is the beneficiary (P600,000 still uncollected.)-P800,000 interest income, exclusive of P200,000 uncollected and accrued inteest
-P200,000 increase in. Alue of investment in stocks
Compute the gross income under accrual basis
A. P1,400,000
B. P1,200,000
C. P1,000,000
D. P800,000
Answer: C. P1,000,000