Go over the financialstatements and prepare acritique (reflection paper) project/report while focusing on the Cash and Cash Equivalents. Check thecompliance/adherence of the assigned company with the generally accepted accountingprinciples and accounting standards.

FAR EASTERN UNIVERSITY, INCORPORATED AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION MAY 31, 2020, 2019 AND 2018 (Amounts in Philippine Pesos) 2020 2019 2018 ASSETS CURRENT ASSETS Cash and cash equivalents P 1,798,366,234 P 1,520,192,490 P 855,331,501 Trade and other receivables - net 990,599,625 620,161,736 540,342,199 Financial assets at fair value through profit or loss 888,517,158 837,414,512 Financial assets at fair value through other comprehensive income 329,290,221 277,750,721 Investment securities at amortized cost 227,576,146 263,808,437 Real estate held-for-sale 123,533,559 123,533,559 123,533,559 Available-for-sale financial assets 2,119,491,677 Other current assets - net 173,963,347 206,017,421 1,110,841,759 Total Current Assets 4,531,846,290 3,848,878,876 4,749,540,695 NON-CURRENT ASSETS Financial assets at fair value through other comprehensive income 387,166,693 428,946,151 Investment securities at amortized cost 303,042,121 523,684,713 Property and equipment - net 9,363,421,490 8,708,590,224 7,205,631,433 Investment properties - net 194,193,727 154,874,322 150,919,929 Available-for-sale financial assets 176,523,803 Held-to-maturity investments 297,284,616 Investment in an associate - net 6,490,925 Goodwill 186,487,019 186,487,019 186,487,019 Deferred tax assets - net 29,533,238 25,673,121 18,135,377 Other non-current assets 190,915,174 202,823,408 396,380,611 Total Non-current Assets 10,654,759,462 10,231,078,958 8,437.853,713 TOTAL ASSETS P 15,186,605,752 P 14,079,957,834 P 13,187,394,408 LIABILITIES AND EQUITY CURRENT LIABILITIES Trade and other payables P 1,902,035,050 P 1,405,750,972 P 1,305,696,027 Interest-bearing loans 868,571,429 1,393,571,429 1,183,571,429 Derivative liability 36,720,866 38,255,313 Deferred revenues 94,744,453 258,368,982 176,907,478 Provisions 18,698,054 48,765,588 20,076,543 Income tax payable 29,528,758 27,535,754 17,953,833 Total Current Liabilities 2,913,577,744 3,170,713,591 2,742,460.623 NON-CURRENT LIABILITIES Lease liabilities 34,507,453 Interest-bearing loans 1,736,666,667 965,000,000 1,333,571,429 Post-employment benefit obligation 61,917,618 47,313,579 46,138,632 Deferred tax liabilities - net 14,659,400 22,684,801 19,489,685 Other non-current liabilities 7,440,467 6,171,400 4,336,911 Total Non-current Liabilities 1,855,191,605 1,041,169,780 1,403,536,657 Total Liabilities 4,768,769,349 4,211,883,371 4,145,997.280 EQUITY Equity attributable to owners of the parent company Capital Stock 1,651,435,400 1,651,435,400 1,651,435,400 Stock dividends distributable 755,431,300 Treasury stock - at cost 67,194,836 ) ( 65,159,830 ) 63,265,755 ) Revaluation reserves 18,041,175 3,264,862 25,739,204 Other reserves 57,785,452 ) ( 57,785,452 ) 57,785,452) Retained earnings Appropriated 1,909,733,100 2,170,733,100 2,843,733,100 Unappropriated 3,346,821,184 3,548,864,966 2,513,808,195 Total equity attributable to owners of parent company 7,556,481,871 7,251,353,046 6,862,186,284 Non-controlling interests 2,861,354,532 2,616,721,417 2,179,210,844 Total Equity 10,417,836,403 9,868,074,463 9,041,397,128 TOTAL LIABILITIES AND EQUITY P 15,186,605,752 P 14,079,957,834 P 13,187,394,408FAR EASTERN UNIVERSITY, INCORPORATED AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF PROFIT OR LOSS FOR THE YEARS ENDED MAY 31, 2020, 2019 AND 2018 (Amounts in Philippine Pesos) 2020 2019 2018 REVENUES Educational Tuition fees - net 3,221,389,820 P 3,028,259,008 P 2,429,326,661 Other school fees 334,923,888 286,993,109 190,854.536 3,556,313,708 3,315,252,117 2,620,181,197 Rental 33,430,485 43,782,587 42,028,413 3,589,744,193 3,359,034,704 2,662,209,610 OPERATING EXPENSES ( 2,859,432,193 ) ( 2,693,558,458 ) ( 2,182,296,116 ) OTHER OPERATING INCOME 41,633,237 2,720,649 3,998,242 OPERATING INCOME 771,945,237 668,196,895 483,911,736 FINANCE INCOME 136,080,528 152,094,620 193,493,393 FINANCE COSTS ( 246,065,317 ) ( 98,276,377 ) 95,374,284 ) OTHER INCOME 122,603,549 212,567, 714 58,204,886 OTHER CHA 94,876 ) INCOME BEFORE TAX 784,563,997 934,582,852 640,140,855 TAX EXPENSE 101,572,455 ) 126,111,125 ) 92,509,844 ) NET INCOME P 682,991,542 P 808,471,727 P 547,631,011 Net Income Attributable to: Owners of the parent company P 621,398,818 P 753,271,625 492,229,280 Non-controlling interests 61,592,724 55,200,102 55,401,731 P 682,991,542 808,471,727 547,631,011 Earnings Per Share Basic and Diluted 25.92 31.41 20.53FAR EASTERN UNIVERSITY, INCORPORATED AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED MAY 31, 2020, 2019 AND 2018 (Amounts in Philippine Pesos) 2020 2019 2018 CASH FLOWS FROM OPERATING ACTIVITIES Income before tax P 784,563,997 P 934,582,852 P 640,140,855 Adjustments for: Depreciation and amortization 471,828,849 372,058,239 306,332,605 Fair value gains (losses) from financial assets at fair value profit or loss (FVTPL) 77,384,209 38,473,202 ) Interest expense 113,078,062 95,072,981 83,798,889 Interest income ( 111,655,911 ) 121,134,236 ) 100,670,612 ) Impairment losses on receivables from students 81,673,482 27,028,023 56,919,308 Other investment loss (income) from FVTPL and fair value through other comprehensive income (FVOCI) - net 75,337,578 27,864,048 ) Unrealized foreign exchange loss (gains) - net 38,285,826 3,153,258 36,992,246 ) Gain on sale of investment property 37,988,903 ) Fair value losses (gains) on derivative liability 5,060,766 3,096,336) 11,504,354 Gain on sale of property and equipment 2,057,151 ) Gain on sale of investment in an associate ( 140,509,075) Impairment losses on investments 50,138 Other investment income from available-for-sale (AFS) financial assets 55,830,535 ) Impairment losses on property and equipment 2,804,401 Share in net losses of an associate 94.876 Operating income before working capital changes 1,485,389,272 1,100,868,594 908,101,895 Increase in trade and other receivables 434,362,977 ) 132,263,566 ) 14,845,876 ) Decrease (increase) in other assets 20,722,729 889,595,244 858,672,419 Increase in real estate held-for-sale 2,913,559 ) Increase in trade and other payables 424,450,175 47,656,559 283,442,601 Decrease in derivative liability 31,660,100 ) 3,098,063 ) 6,614,500 ) Increase (decrease) in deferred revenues 163,624,529 81,461,504 101,707,944 Increase (decrease) in provisions 30,067,534 28,689,045 382,168 Increase (decrease) in post-employment benefit obligation 14,604,039 1,174,947 13,662,071 ) Increase (decrease) in other non-current liabilities 1,269,067 1,834,489 359,420 ) Cash generated from operations 1,286,720,142 2,015,918,753 396,566,763 Income taxes paid (111,464,969 ) (120,871,832 ) 73,130,079) Net Cash From Operating Activities 1,175,255,173 1,895,046,921 323,436,684 CASH FLOWS FROM INVESTING ACTIVITIES Acquisitions of financial assets at FVTPL ( 1,267,039,964 ) ( 1,690,108,239) Acquisitions of property and equipment ( 1,029,365,136 ) ( 1,803,401,265 ) ( 1,410,471,003 ) Proceeds from disposal of financial assets at FVTPL 1,048,518,806 1,935,011,835 Proceeds from maturities of investment securities at amortized cost 290,653,287 102,167,384 Proceeds from disposal of financial assets at FVOCI 245,059,480 2,852,453,988 Acquisitions of financial assets at FVOCI 239,304,955 ) ( 2,741,291,123) Interest received 111,964,125 120,173,787 107,764,312 Acquisitions of investment properties - 87,639,288 ) 30,236,767 ) 22,313,379 ) Proceeds from disposal of investment property 53,571,429 Acquisitions of investment securities at amortized cost 41,769,449 ) 130,119,203) Advances granted to related parties 18,666,407 ) 9,229,702 16,756, 062 ) Decrease in advances to suppliers and developers 13,338,144 196,037,010 113,751,593 Proceeds from disposal of porperty and equipment 2,678,571 Proceeds from sale of investment in an associate 147,000,000 Acquisitions of AFS financial assets ( 2,664,941,069) Proceeds from disposal of AFS financial assets 2,578,601,829 Proceeds from maturities of HTM investments 102,743,344 Acquisitions of HTM investments 52,500,099) Net Cash Used in Investing Activities 918,001,357 ) ( 1,033,082,891 ) ( 1,264,120,534) Balance carried forward P 257,253,816 P 861,964,030 (P 940,683,850 )Balance brought forward CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from additional interest-bearing loans Repayments of interest-bearing loans Dividends paid Interest paid Proceeds from issuance of preferred shares to a related party under common management Acquisition of treasury shares Repayments of lease liability Net Cash From (Used in} Financing Activities Effect of Exchange Rate Changes on Cash and Cash Equivalents NEI' INCREASE IDECREASEI IN CASH AND CASH EQUIVALENTS NET INCREASE IN CASH DUE TO CONSOLIDATION OF A NEW SUBSIDIARY CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR CASH AND CASH EQUIVALENTS AT END OF YEAR Lam 1,195,000,000 l 940,333,333 I { 323,553,105 I i 115,687,250 I 86,000,000 l 34,145,061 I l 1,521,231 I I m I I M I 106,673,744 171,500,000 1.520, 122,451 P1798366234 mm 270,000,000 428,571,429 I 249,095,841 I 125,827,490 I 335,500,000 1,894,075 I l M I 4185.295 664,860,989 855 331,501 P 1 520 192 490 {WI 795,000,000 227,857,142 I 242,812,818 I 95,347,392 I 50,000,000 13,903,192 I 45.20.22.155 4.73.4551 ( 670,869,747I 1,2,201,24 P 855,331,501 Supplemental Infon'nation on Noncash Investing and Financing Activities: 1.} In 2020, the Group recognized right-ofuse asset and lease liability amounting to P13.S million as at June 1, 2019 in relation to adoption of PFRS 16, Leases. Additional right-ofuse asset and iease liability were recognized during the year both amounting to P34.7 million due to a lease agreement entered by the Group as a lessee. As of May 31, 2020, the outstanding balance of right-ofuse assets and lease liabilities is P421 million and P46.6 million, respectively. Du ring the year ended May 31, 2020, the University acquired 51% of the outstanding shares of Edustria, Inc. for a subscription price amounting to P2550 million. In 2020, 2019 and 2018, the Group capitalized borrowing costs amounting to P17.0 million, P33.7 million and P15.9 million as part of acquisitions of property and equipment. In 2019 and 2018, certain assets amounting to P85 million and P41 million, respectively, were reclassied from Investment Property to Property and Equipment, while certain assets amounting to P28.1 million, were reclassified from Real Estate Held for Sale to Investment Property during 2018. The Group declared cash dividends totaling P3290 million in 2020 and P2628 million in both 2019 and 2018, of which, P108 million, P17.2 million and P18.6 miliion for years 2020, 2019 and 2018, respectively, were not paid in the year of declaration