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Use the following information for the next three (3) questions: Gerald Company had the following account balances for 2021. Accounts payable Inventory Accounts receivable Prepaid expenses December 31 500.000 300,000 800,000 400.000 January 1 650,000 250.000 900,000 600,000 All sales and purchases of inventory were on account. Depreciation expense of P900,000 was recognized during 2021. Equipment was sold during 2021 and a gain of P300,000 was recognized. The entity provided the following cash flow information for 2021: Cash collected from customers Cash paid to suppliers Cash paid for other expenses 1) What is the net cash flow from operating activities? A 9,500,000 B. 5,400,000 9,500,000 4,100,000 1,400,000 C. 4,000,000 D. 4,600,000 (2) What is the net income under cash basis? A 3,400,000 B. 4,050,000 C. 4,000,000 D. 3,450,000 3) What is the net income under accrual basis? A 3,900,000 B. 3,000,000 C. 3,300,000 D. 4,000,000