1. Afternoon Co.'s records on Dec. 31, 20x1 show the following: Cash on hand P 320,000 Cash in Bank - current account 1,120,000 Cash in Bank - peso savings deposit 6,400,000 Cash in Bank - doilar savings deposit (restricted) $64,000 Treasury bill (purchased 11/1/20x1, maturing 2/28/20x2) P2,560,000 Treasury shares (purchased 12/31/20x1, for reissuance on 2/28/20x2) 1,600,000 Unused Credit Line 6,400,000 Sinking fund 640,000 . Additional information: On Dec. 29, 20x1, Afternoon Co. issued a check amounting to P192,000. The check is dated Jan. 3, 20x2. The peso savings deposit includes a compensating balance of P80,000 which is not legally restricted. The exchange rate on Dec. 31, 20x1 is P51:$1. . Requirement: Compute for the amount of cash and cash equivalents to be reported in the 20x1 financial statements