Floredelz Knit and Croc is a manufacturing business which produces knitted products in Baguio. In 2020 operation, the revenue generated by the company amounting to Php 1,000,000.00 represent sales on different items such as jacket, cardigans, scarves, bonnets, and others. The cost of goods sold is 40% based on sale. The operating expenses is amounting to 30% of the gross profit and interest expenditure for the year is 50,000.00. Compute for the net income using the pro- forma table.​