Using analytical procedures in conducting substantive testing, kindly prepare observations/findings relative to the result of your analytic procedures

Statement of Income Statement of Financial Position For the Month Ended April 30. 20xx For the Month Ended April 30. 20xx Service Revenues ASSETS Current Assets Professional Fees P62,000.00 Cash PILL,734.00 Accounts Receivable Internet and Other Fees 27,000.00 P89.000.00 Deposit for Reut 50.000.00 Prepaid Insurance 2.000.00 Printing Materials and Supplies 500.00 Less: Cost of Services Office Supplies 750.80 P164.984.00 Direct Charges - Salaries, Wages and Benefits P13,946.00 Non Current Asters Direct Charges - Materials, Supplies and Facilities 1,500.00 Coraputer Equipmears P252,000.00 Less: Accumulated Depreciation - Computers 12.000.00 240.000.00 Direct Charges - Depreciation Computer Equipments 6,000.00 Furnitures and Fixtures 42.000.00 Direct Charges - Rental 5,000.00 26,446.00 Less: Accumulated Depreciation - Furnitures and Fixtures 1.000.00 41.090-90 281.900.00 TOTAL ASSETS P15.984.00 Gross Income P62,554.00 LIABILITIES AND OWNER'S EQUITY Less: Operating Expenses Current Liabilities Accounts Payable PO.00 Expense - Communication, Light and Water P9.120.00 SSS Philhealth.HIDMF Premiura Payable Witholding Tax Payable Expense - Depreciation Furnitures and Fixtures 500.00 Percentage Tax Payable 2.670.00 Expense - Insurance 200.00 Uneamed Professional Fees 29.000.00 P31,670.00 Expense - Office Supplies 750.00 Non Current Liabilities Expense - Taxes and Licenses 2.670.00 13,240.00 TOTAL LIABILITIES P31,670.00 Net Income P49.314.00 Owner's Equity, G.G Cabriel P414,314.00 TOTAL LIABILITIES AND OWNER'S EQUITY P.145,984.00 Statement Of Changes in Equity Statement of Cash Flows For the Month Ended April 31, 20xx For the Month Ended April 30, 20xx Net Cash Flow from Operating Activites Net Income before Interest and taxes 49314 Adjustments for: Add: Depreciation 7000 Prepaid Insurance 200 Owner's Equity, Beginning P380,000.00 Increase in Percentage tax payable 1170 Increase in Unearned Income 14000 Add: Net Income 49,314.00 Less: Increase in Supplies -250 Net cash provided by operations 71434 429,314.00 Cash Flow from Investing Activities Payment for purchase of Equipment -15000 Less: Drawings 15,000.00 Cash Flow from Financing Activities Drawings -22000 Owner's Equity. End 414,314.00 Increase (Decrease) in Cash 34434 Add: Cash Balance, Beginning 77300 Cash, End 11734