PROBLEMA TRIUMVIRATE TRADING has the following December 31, 2020 and 2021 Statements of Financial Position and 2021 Income Statement, and additional information regarding transactions in 2021. TRIUMVIRATE TRADING Comparative Statement of Financial Position December 31 2021 2020 Cash P? P 430,000 Accounts Receivable 1,020,000 420,000 Prepaid Rent 18,000 12,000 Inventories 650,000 500,000 Land 4,500,000 4,500,000 Buildings, net 9,950,000 3,600,000 Total Assets ? 9,462,000 Accounts Payable P 55,000 P 340,000 Notes Payable 6,000,000 Salaries Payable 240,000 120,000 Accounts Payable P 55,000 P 340,000 Notes Payable 6,000,000 Salaries Payable 240,000 120,000 Interest Payable 20,000 Income Tax Payable 604,700 Total Liabilities 6,919,700 450,000 Ventura, Capital P? P 9,002,000 TRIUMVIRATE TRADING Income Statement December 31, 2021 Sales P,9,200,000 Cost of Goods Sold (3,200,000) Gross Profit 6,000,000 Gain on Sale of Plant Assets 300,000 Depreciation Expense (750,000) Salaries Expense (2,100,000) Rent Expense (125,000) Miscellaneous Expense (270,000) EBIT 3,055,000 Interest Expense (100,000) EBT 2,955,000 Tax Expense (886,500) Net Income 2,068,500 Additional information for 2021: Plant assets were sold on cash and has a carrying value of P500,000 Cash withdrawals of the owner amounted to P1,200,000 Owner also invested additional P5,000,000 additional cash Borrowed P6,000,000 cash on November 1, 2021 to be paid back with annual interest of 10% on June 1, 2011. Interest accrued every two months are paid 80% upon accrual while 20% on the next two months after the accrual. Miscellaneous Expenses are all non-cash expenses Question 31 2 Points On December 31, 2021, using Indirect Method of Presenting the Cash flows from Operations, total adjustments from the net income due to non-operating items amounted to? (Enclose with parentheses if decrease) Blank 1 Blank 1 Add your answer Question 32 2 Points Using either Direct or Indirect Method of presenting Cash flows from Operations, Net Cash flow from operations for the year 2021 amounted to? (Enclose with parentheses if outflow) Blank 1 Blank 1 Add your answer Question 33 2 Points Ending balance of cash on December 31, 2021? Blank 1 Blank 1 Add your