Problem:

The accountant of EBC Company has compiled the following data from the firms records for the year 2017:

1. Sales on Credit, P250, 000.

2. Collections from customers, P 225,550.

3. Payment of long term note payable, P15, 000.

4. Cash Payments to acquire plant assets, P350, 000.

5. Interest revenue on notes receivable, P10, 000.

6. Collection of interest receivable, P12,000

7. Cash receipt of dividends on stock investment, P8, 500.

8. Grant loans to other company, P50, 000.

9. Cost of goods sold, P160, 000.

10. Proceeds from issuance of ordinary shares, P 100,000.

11. Payment to suppliers, P140, 000.

12. Proceeds from sale of plant assets, P65, 000.

13. Salary expense, P55, 000.

14. Payment of salaries, P65, 000.

15. Proceeds from issuance of long-term note payable, P95, 000.

16. Depreciation Expense, P15, 000.

17. Other operating expenses, P12, 000.

18. Declaration and payment of cash dividends, P 20,000.

19. Interest expense and payments, P 13,560.

20. Purchase of inventory on credit, P 150,500.

21. Income tax expense and payments, P 25,000.

Cash Balance, January 1, 2017, P550,000

Cash Balance, December 31, 2017, P377,490

EBC Company Statement of Cash Flows For the Year Ending December 31, 2017 Cash flows from Operating Activities Cash Inflows Cash receipts of dividends on stock investment Total Cash Inflows Cash Outflows Total cash outflows Net cash inflows(outflows) from operating activities Cash Flows from Investing Activities Cash Inflows Cash Outflows Total cash outflows Net cash inflows (outflows) from investing activities Cash Flows from Financing Activities Cash Inflows Proceeds from issuance of ordinary shares Proceeds from issuance of long-term note pays Total cash Inflows Cash Outflows Declaration and payment of cash dividends Total cash outflows Net cash inflows (outflows) from financing activities Net Cash Increase (Decrease) Add