1. Prepare the Income Statement , Statement of Changes in Shareholders' Equity, Statement of Financial Position and Statement of Cash Flows (2020)

Additional Information: 1. Dividends declared were P1.5M and PIM for the years 2020 and 2019 respectively. 2. The dividends are paid the year following the declarationAll figures below are in thousands of Pesos 2020 2019 Accounts Payable # 7,546,000.00 8,123,000.00 Accounts Receivable 18,880,000.00 P 17,670,000.00 Accrued income 643,000.00 143,000.00 Accrued expense P 2,504,000.00 4,553,000.00 Accumulated Depreciation # 30,342,000.00 Th 20,120,000.00 Allowance for Bad debts 1,421,000.00 1,321,000.00 Bad Debts Expense 100,000.00 110,000.00 TP TP Cash in Bank 11,550,000.00 8,516,000.00 Cash on Hand 650,000.00 Th 460,000.00 Cost of sales 92,993,000.00 59,885,000.00 Dividend Payable P 1,500,000.00 1,000,000.00 Income tax exp 7,613,000.00 4,885,000.00 Income tax payable P 1,890,000.00 1,700,000.00 Interest Expense 1,606,000.00 P 1,265,000.00 ch TP Inventories - end 6,000,000.00 5,500,000.00 Long-term debt 15,000,000.00 15,000,000.00 Long-term investments 16,300,000.00 9,500,000.00 Notes Receivable - Long term 7,000,000.00 Th 4,970,000.00 Office Depreciation 5,323,000.00 5,350,000.00 Office Salaries Expense 2,877,000.00 1,888,000.00 Office Supplies Expense 3,210,000.00 2,964,000.00 Other Expenses 3,515,000.00 Th 2,750,000.00 Petty Cash Fund 100,000.00 Th 104,000.00 Prepaid expenses Th 321,000.00 301,000.00 Property, Plant and Equipment 55,190,000.00 45,760,000.00 Retained Earnings 15,257,000.00 5,358,000.00 Sales P 178,530,000.00 124,765,000.00 Sales Commission 8,230,000.00 6,394,000.00 Sales Discounts 21,030,000.00 19,000,000.00 Sales-Salaries Expense 9,870,000.00 5,405,000.00 Share Capital # 14,000,000.00 P 14,000,000.00 Share Premium 7,000,000.00 Th 7,000,000.00 Short-term debt 2,910,000.00 4,650,000.00 Store Depreciation 4,899,000.00 4,770,000.00 Total P 277,900,000.00 P 277,900,000.00 P 207,590,000.00 207,590,000.00