Reference no: EM132951681

Question - Monster Inc. provided the following data:

	2020	2019
Cash	P300,000	P200,000
Accounts Receivable	840,000	580,000
Merchandise Inventory	660,000	420,000
Prepaid Expenses	100,000	50,000
Long term investment	80,000	0
Property, Plant, and Equipment	1,130,000	600,000
Accumulated Depreciation	110,000	50,000
Accounts Payable	530,000	440,000
Accrued Expenses	140,000	130,000
Dividend Payable	70,000	0
Note Payable- Long Term Debt	500,000	0
Share Capital	1,200,000	900,000
Retained Earnings	560,000	330,000
Net Credit Sales	6,400,000	4,000,000
Cost of Goods Sold	5,000,000	3,200,000
Expenses	1,000,000	520,000
Net Income	400,000	280,000

All accounts receivable relate to trade merchandise.

Accounts payable are recorded net and always paid to take all of the discounts allowed.

The allowance for doubtful accounts at the end of 2020 was the same as at the end of 2019. No receivables were charged against the allowance during 2020.

The proceeds from the note payable were used to finance a new store building. Share capital was sold to provide additional working capital to the company. Make a Statement of Cash Flows for the entity for the year ended 2020?