Mountain Company reported the following income statement for the year ended December 31, 2015: 4,500,000 750,000 2,850,000 3,600,000 (600,000) 3,000,000 1,500,000 Sales Cost of goods sold: Inventory -- January 1 Purchases Goods available for sale Inventory - December 31 Gross income Expenses: Salaries Rent Insurance Doubtful accounts expense Other expenses Depreciation Net income 600,000 250,000 20,000 30,000 100,000 50,000 1,050,000 450,000 Additional information December 31 January 1 Accounts receivable 540,000 440,000 Allowance for doubtful accounts 10,000 20,000 Inventory 600,000 750,000 Prepaid insurance 15,000 10,000 Accounts payable 280,000 160,000 Accrued salaries payable 50,000 80,000 Equipment 1,200,000 1,200,000 Accumulated depreciation 290,000 240,000 During the year, the entity recognized doubtful accounts expense of P30,000 and wrote off uncollectible accounts of P10,000. Required: Determine the cash flow from operating activities using the direct method and indirect method