Use the following information for the next two (2) questions:

Joust Corporations transactions for the year ended December 31, 2020 included the following:

Purchased real estate for P550,000 cash which was borrowed from a bank.

Sold FVOCI investments for P500,000.

Paid dividends of P600,000.

Issued 500 ordinary shares for P250,000.

Purchased machinery and equipment for P125,000.

Paid P450,000 toward a bank loan.

Reduced accounts receivable by P100,000.

Increase accounts payable by P200,000.

8) Jousts net cash used in investing activities for 2020 was

A. 675,000 B. 375,000 C. 175,000 D. 50,000

9) Jousts net cash used in financing activities for 2020 was

A. 50,000 B. 250,000 C. 450,000 D. 500,000

10) Brocken Companys cash balance as of December 31, 2012 and 2011 were P7,040,000 and P400,000

respectively. Brockens December 31, 2012 statement of cash flows reported net cash used in investing

activities of P1,500,000 and net cash from financing activities of P4,080,000. How much is the net cash

flows from (used in) operating activities?

A. 4,600,000 used B. 4,060,000 used C. 4,600,000 provided D. 4,060,000 provided