Question 36 1.5 pts The following income statement is for IVERSON Company for the year ended December 31, 2016: Sales 4,050,000 Cost of goods sold 2340 000 Gross profit 1.710.000 Gain on sale of equipment 40.000 Total income 1,750,000 Operating expenses Salaries and wages 535420 Depreciation expense 70,000 Insurance expense 24 580 Rent experte 160.000 Fair vakte loss on equity investments at FVPL 5.000 795 000 Operating income 965,000 Interestespense 30 000 Income before income tax 925.000 Income tax expense 277500 Income after income tax 647.500 Changes in current asset and current liability accounts during the year, all of which are related to operating activities were as follows: Accounts receivable, P600,000 increase Notes receivable (trade). P230.000 decrease Merchandise Inventory. P520.000 decrease Prepaid insurance, P5.250 decrease Accounts payable, P430,000 decrease Salaries and wages payable, P30,000 increase . Interest payable, P5.600 decrease Income tax payable. P25,000 increase How much is the collection from customers during the year 20167 How much is the payment for total expenses during the year 2016 (include interest and income taxes)? How much is the net cash provided by used in operating activities for the year 2018? Note: If your answer is used in", indicate a negative sign (0.9 -1,400,000). If your answer is provided by", indicate the answer as it is