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Additional information:1. Net income for the year was P790,0002. Cash dividend of P500,00 was declared3. Equipment costing P600,000 with carrying amount of P350,000 was sold

Additional information:1. Net income for the year was P790,0002. Cash dividend of P500,00 was declared3. Equipment costing P600,000 with carrying amount of P350,000 was sold for P350,0004. Equipment costing P110,000 was acquired through the issuance of long-term debt5. Long term investment was sold for P135,000. No other transactions affected long-term investment6. 10,000 ordinary shares were issued for P22 per share REQUIRED:1. Net cash provided (used) by operating activities2. Net cash provided (used) by investing activities3. Net cash provided (used) by financing activities

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Assets Increase / -Decrease Cash and cash equivalents 100,000 Short term investments 300,000 Accounts receivable, net O Inventory 80,000 Long-term investments -100,000 Property, plant and equipment 700,000 Accumulated depreciation O 1,080,000 Liabilities and Shareholders' Equity Increase / -Decrease Accounts payable 5,000 Dividend payable 160,000 Short term bank debt 325,000 Long term debt 110,000 Ordinary share capital, P10 par 100,000 Share premium 120,000 Retained earnings 270,000 1,080,000

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