Problem #38 Statement of Cash Flows Bobadilla Corp. has the following balances in its shareholders' equity accounts at the beginning and end of the year: Convertible Preference Shares, P100 par, each share convertible to 3 ordinary shares Ordinary Shares, P1 par value Share Premium-Ordinary Retained Earnings Treasury Stock Beginning Balance Ending Balance P2,000,000 P 600,000 800,000 3,000,000 9,940,000 7,000,000 8,000,000 400,000 130,000 Assume that no ordinary shares was retired during the year and profit was P1,300,000. The treasury stock was sold for P250,000. Required: Prepare the financing activities section of the statement of cash flows. Problem #38 Statement of Cash Flows Bobadilla Corp. has the following balances in its shareholders' equity accounts at the beginning and end of the year: Convertible Preference Shares, P100 par, each share convertible to 3 ordinary shares Ordinary Shares, P1 par value Share Premium-Ordinary Retained Earnings Treasury Stock Beginning Balance Ending Balance P2,000,000 P 600,000 800,000 3,000,000 9,940,000 7,000,000 8,000,000 400,000 130,000 Assume that no ordinary shares was retired during the year and profit was P1,300,000. The treasury stock was sold for P250,000. Required: Prepare the financing activities section of the statement of cash flows.