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Compute the cash from operations

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Reference no: EM132993329

Question - A Corp. has P616,000 net income after interest expense of P30,000 and income tax expense of P264,000. It reported P40,000 gain on sale, P70,000 depreciation expense, and P50,000 loss on sale. Changes in current asset and current liability accounts during 2020 were as follows:

Accounts receivable - P60,000 increase

Merchandise inventory - P50,000 increase

Accounts Payable - P90,000 decrease

Salaries and wages payable - P30,000 increase

Interest payable - P5,000 increase

Income tax payable - P25,000 decrease

Required - Compute the cash from operations?

Reference no: EM132993329

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