Problem 1

Despero Company provided the following information for the current year:

Net income P3,980,000

Deprectaion expense 1,060,000

Amortization 200,000

Decrease in accounts receivable 1,260,000

Increase in inventory 900,000

Increase in accounts payale 240,000

Payment of dividends 540,000

Purchased of financial assets at amortized cost 300,000

Loss on sale of financial asset ast FVOCI 50,000

Decrease in income tax payable 150,000

Increase in long-term note payable 2,900,000

Required: Compute for net cash provided by operating activities for the current ye