Avedon Company provided the following information for the current year as indicated in the photo. Additional information are as follows: (1) Accounts receivable increased 400,000 during the year. (2) Prepaid expenses decreased 150,000 during the year. (3) Accounts payable decreased 200,000 during the year. (4) Notes payable-bank increased 400,000 during the year. (5) Accrued expenses increased 300,000 during the year. (6) Taxes payable increased 60,000 during the year. (7) Administrative expenses included depreciation expense of 120,000. What is the net cash provided by operating activities?

Please explain how the correct answer 620,000 derive

6,000,000 1,500,000 4,200,000 5,700,000 (1,300,000) Sales Cost of goods sold: Beginning inventory Purchases Goods available for sale Ending inventory Gross income Gain on sale of equipment Total income Operating expenses: Distribution cost Administrative expenses Income before tax Income tax expense Net income 4,400,000 1,600,000 100,000 1,700,000 600,000 400,000 1,000,000 700,000 210,000 490,000 +420,000 720,000 P620,000 820,000 Correct answer P620,000