his way to deliver merchandise ordered by his customer when another driver lost control over his truck and rammed it against the truck of Mr. Ventura. As a result, Ventura sustained injuries, his truck was severely damaged, and all the merchandise were destroyed. Negotiations with other party went smoothly and Mr. Ventura was paid the total amount of P3,150,000 for the following: Repair and replacement of truck parts P900,000 Total selling price of merchandise destroyed (at P1,000,000 cost) 1,700,000 Hospitalization and medical expenses for injuries sustained 300,000
Ventura was on his way to deliver merchandise ordered by his customer when another driver lost control over his truck and rammed it against the truck of Mr. Ventura. As a result, Ventura sustained injuries, his truck was severely damaged, and all the merchandise were destroyed. Negotiations with other party went smoothly and Mr. Ventura was paid the total amount of P3,150,000 for the following:
Repair and replacement of truck parts P900,000
Total selling price of merchandise destroyed (at P1,000,000 cost) 1,700,000
Hospitalization and medical expenses for injuries sustained 300,000
Reimbursement for other expenses incurred in relation to the incident 250,000
Total P3,150,000
How much of the above is gross income of Mr. Ventura for
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