Merville is a dealer in real properties. Merville requires 20% down payment, and the balance is payable over 36 monthly installments starting on the last day of the month following the month of sale. Merville sold properties in 2023 and 2024 with terms as follows:
 House and Lot No. 1 was sold for P1,350,000 on November 11, 2023.
 House and Lot No. 2 was sold for P1,800,000 on July 5, 2024.
Both properties were sold at a gross profit rate of 40% based on the selling price. Compute Merville's gross income subject to income tax in 2023 and 2024, 
 a. P120,000; P368,000
 b. P540,000; P720,000
 c. P120,000; P864,000
 d. P540,000; P864,000

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