2020 2019 Amount Percent Amount Percent 1,013,412,622 76% 1,231,502,943 33% 1,128,196,981 2,051,127,090 535,902,141 83,881,848 84% 40% 6% 549,866,677 65,911,077) 54% 15% 2% 219,832,803 16% 60,403,364 2% (106,392,946) -3% 13,148,422 19,694,157 44,607,228 4,249,976 392,940 (3,730,966) (7,307,158) (26,157,099) 999,298,651 CASH FLOWS FROM OPERATING ACTIVITIES Income (loss) before income tax Adjustments to reconcile income before income tax to net cash flows Depreciation and amortization Interest expense Retirement expense Loss on stores closures and disposals of property and equipment and other assets Share in net loss (earnings) of an associate and joint venture Provision for inventory obsolescence Provision (reversal) for ECL Unrealized foreign exchange losses - net Loss on derecognition of franchise cost Gain on sale on interest in joint venture Gain on remeasurement of right-of-use assets and lease liabilities Interest income Operating income before working capital changes Decrease increase) in: Trade and other receivables Merchandise inventories Prepayments and other current assets Increase (decrease) in: Trade and other payables Deferred revenue Tenant deposits Net cash generated from operations Interest received Contributions Benefits paid Income taxes paid, including creditable withholding tax Net cash flows provided by operating activities 1% 1% 3% 0.32% 0.03% -0.28% -1% -2% 75% (9,402,379) 3,759,307 7,056,917 -0.25% 0.10% 0.19% (20,469,580) 3,833,362,470 (72,151,061) -0.54% 101.52% 2,654,465 590), 146,995 383,827,470 0.20% 44% 29% (573,690,134) (114,273,856) -1.91% -15.19% 3.03% (379,736,705) 9,937,500 415,287 1,616,543,663 11,568,066 (6,334,414) (18,644,240) (257,692,698) 1,335,440,377 -28% 1% 0.03% 120% 1% -0.47% -1% -19% 100% 1,054,946,814 (298,353) (13,905,553) 4,113,990,327 8,057,398 (9,885,000) (3,124,640) (333,127,845) 3,775,910,240 27.94% -0.01% -0.37% 108.95% 0.21% -0.26% -0.08% 8.82% 100.00% 1.888,037 (436,726,993) (3,243,725) -1% 133% 1% (960,963,076) (16,161,936) 96% 2% 86,411,627 (4,723,481) 0.47% 2% (19,422,410) (27,276,694) 44,022,859 5,480,966 (329,443,923) -26% 8% -13% -2% 100% (1,001,270,903) 100% CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from disposal of property and equipment Acquisitions of property and equipment Payment of Tranchise cost and software Cash receipts from amounts owed by related parties Cash receipts (payments) of: Security deposits and construction bonds Other noncurrent assets Dividends received from investment in an associate Proceeds from sale of interests in joint ventures Net cash flows used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES Short-term loans payable Principal portion of lease Liabilities Long-term debt Interest Dividends payment Stock grant settlement Purchase of treasury shares Net cash flows provided by (used in) financing activities EFFECT OF EXCHANGE RATE CHANGES ON CASH NET INCREASE IN CASH CASH AT BEGINNING OF YEAR CASH AT END OF YEAR (2,800,000,000) (295,117,840) (284,306,666) (535,543,122) -155% -16% -16% -30% (5,655,000,000) (1,088,308,169) (450,973,334) (548,618,081) (49,957,284) 214% 41% 17% 21% 2% - 1% 100% 0.40% 100% (12,789,110) 1,807,243,262 (1,823,510) 2,811,416,206 2,492,459,933 5,303,876,139 (10,545,460) (2,640,902,328) (1,738,000) 131,999,009 2,360,460,924 2,492,459,933 4) Kindly provide interpretation for the vertical analysis - cash flow statement