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The following profit or loss information is available for Catherine Company for the year ended December 31, 2020: Sales Cost of goods sold Selling expenses
The following profit or loss information is available for Catherine Company for the year ended December 31, 2020: Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Gain on sale of equipment 2,400,000 1,800,000 280,000 60,000 20,000 10,000 75,000 Income tax expense The current assets and liabilities at the end of 2020 and 2019 are as follows: 12/31/2020 12/31/2019 Cash Accounts receivable Inventories Accounts payable 369,000 180,000 380,000 290,000 230,000 140,000 350,000 230,000 Additional information: 1. Depreciation of P110,000 is included. P80,000 in selling expenses and P30,000 in administrative expenses. 2. During the year, equipment was sold for P100,000 cash. This equipment cost P150,000 and had a carrying value of P90,000. 3. New equipment was purchased for P70,000 cash. 4. P120,000 dividends were declared and paid. 5. The company purchased 300 treasury shares for cash of P36,000. Requirement: Compute for the: Cash flows provided by used in) Operating Activities [a] Cash flows provided by/(used in) Investing Activities [b] ash flows provided by/(used in) Financing Activities [c] Cash, Ending [d]
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