Answer

Use the following information for the next four (4) questions: Cagindangan Company presented to you the following income statement Cagindangan Company Income Statement For the Year Ended December 31, 2020 Sales 10,350,000 Cost of Goods Sold 7.050,000 Gross profit 3,300,000 Operating expenses: Selling 675,000 Administrative 1,050,000 1.725,000 Net income 1.575,000 Additional information: Accounts receivable decreased P540,000 during the year. Prepaid expenses increased P255,000 during the year. Accounts payable to suppliers of merchandise decreased P412,500 during the year Accrued expenses payable decreased P150,000 during the year. Administrative expenses include depreciation expense of P90,000. Inventories decreased by P450,000. 7) What is the total amount of cash paid for operating expenses during the year? Answer: 8) What is the net amount of cash provided by operating activities