Alex, a teller at a bank, receives salaries from the bank in the amount of P50,000 a month. He also has a side business where he makes a gross amount of P25,000 a month in sales of snacks that he sells to his officemates. The cost of his snacks amount to 80% of his sales. Finally, at the end of the year, an investigation held by the bank uncovered that Alex had been able to misappropriate P300,000 from the deposits of clients by not reporting the deposits that had been made. The bank filed a claim with the Philippine Insurance for the theft and was paid the amount of P200,000 and Alex was charged with the police for his theft. 

How much is Alex's Gross Income?  

Answer rating: 100% (QA)

Alexs gross income from his salary and his snack business is P500... View the full answer