Use the following information for the next eight questions: Papa gives you a weekly allowance of #20. In the next questions, we will treat your weekly allowance as your weekly income and the amount you spend out of the allowance as your expenses. Any unspent amount (i.e., savings) tepresents your profit. 3. You spent #18, Which of the following statements is correct? a. Your profit for the week is #20, You incurred a loss 18, Your profit for the week is #2. Papa is kuripot. aos 4. To earn a profit of #10 in a month, your weekly spending should be (use 4 weeks per month) a. PI75 b. P715 " c. P70. d. That is impossible! I would starve myself first before I can earn that profit. 5. You spent all your allowance for the week. In addition, you purchased 1 “balut” worth #16 from Manong Balut (see #2), on credit. You told Manong Balut you will pay him next week. Under the accrual basis of accounting, your profit (loss) for the current week is a. P16. °° c. (P16). b. 0. d. 1 balut.