Compute the interest expense for the current year

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Question - Athena Company reported net income of P5,000,000 and provided the following information for the current year:

Amortization of patent P45,000

Depreciation on plant assets 1,650,000

Long-term debt:

Bond discount amortization 65,000

Interest paid 900,000

Income tax:

Income tax expense 300,000

Increase in deferred tax liability 25,000

Purchased of additional financial asset at FVPL 1,000,000

Unrealized loss on financial asset help for trading 100,000

Unrealized loss on financial asset at FVOCI 400,000

Required -

1. Compute the interest expense for the current year.

2. Compute the income tax paid for the current year.

3. Compute the net cash provided by operating activities.

Reference no: EM132866447

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