The following data are extracted from the shareholders' equity section of the balance sheet of Empress Corporation: [ AS OF 12/31/20 Ordinary Share capital (P1 par value)-P50,000; Paid-In capital in excess of par -P25,000; Retained earnings - P50,000] [AS OF 12/31/21 Ordinary share capital (P1 par)- P51,000; Paid-In capital in excess of par-P29,000; Retained earnings-P 52,300] During 2021, the corporation declared and paid cash dividends of P7,500 and also declared and issued a share dividend. There were no other changes in shares issued and outstanding during 2021. What is the Net income for 2021? * P14,800 P9,800 O P2,300 OP10,800