ACTIVITY 2. DEF Company provided the following balances on December 31, 2021: Cash and cash equivalents 1,200,000 Inventory 650,000 Prepayments 120,000 Investment in associate 440,000 Deferred tax asset 200,000 Intangible assets 380,000 Further analysis of DEF Company's accounts revealed the following: a. Cash account includes a sinking fund of P300,000, as well as P90,000 being held to pay VAT. The balance was net of an overdraft amounting to P200,000 in its BPI account. DEF does not have any other account in BPI. b. Prepayments included a P50,000 security deposit which will expire by December 31, 2023. C. The deferred tax asset was due to a future deductible amount of which 40% will reverse in 2022 and the remaining portion evenly from 2023 to 2025. 1. What is the amount reported as current assets on December 31, 2021? 2. What is the amount reported as noncurrent asset on December 31, 2021