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Exercise 2 Use the following financial information for Natsu Corporation on December 31, 2020 to con- struct: a) Statement of Financial Performance/Income Statement; b) Statement

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Exercise 2 Use the following financial information for Natsu Corporation on December 31, 2020 to con- struct: a) Statement of Financial Performance/Income Statement; b) Statement of Financial Position/Balance Sheet. Revenue P3,000,000 Accounts Payable 1,200,000 Accounts Receivable 3,500,000 Salary Expense 1,950,000 Cash 3,000,000 Common Stock 3,100,000 Interest Expense 150,000 Notes Payable 800,000 Retained Earnings Beg. 3,000,000 Equipment 1,500,000

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