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The following data were taken from the statement of realization and liquidation of CRASHED CO. Assets to be realized 1,375,000 Assets acquired 750,000 Supplementary credits

The following data were taken from the statement of realization and liquidation of CRASHED CO.

Assets to be realized

1,375,000

Assets acquired

750,000

Supplementary credits

2,800,000

Assets realized

1,200,000

Liabilities to be liquidated

2,250,000

Liabilities assumed

1,625,000

Supplementary charges

3,125,000

Assets not realized

1,375,000

Liabilities liquidated

1,875,000

Liabilities not liquidated

1,700,000

The ending balances of capital stock and retained earnings are P1,500,000 and P238,000, respectively. A net loss of P738,000 was reported for the period.

  1. What is the net gain/(loss) for the three-month period?
  2. How much is the ending balance of cash?

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