Reference no: EM133138908

Questions -

Q1. The related data of Frost Company:

Cost of Goods Sold P1,757,900

Dividends Income 57,600

Gain on change in fair value of financial assets- FVOCI 97,500

Income from discontinued operations 50,000

Income tax expense 216,660

Interest expense 68,000

Interest Income 18,000

Loss on change in fair value on financial assets- FVPL 65,000

Net re-measurement loss 70,000

Sales 3,567,500

Sales discount 49,000

Sales return and allowances 37,200

Selling and administrative expenses 580,700

How much is the net income?

Q2. The related data of Amaya Company are as follows:

Accounts Payable 125,000

Accrued Liabilities 38,900

Cash 98,700

Intangible assets 300,00

Inventory 185,900

Long-term investments 380,000

Long-term liabilities 278,000

Marketable securities 70,000

Notes payable (short-term) 25,000

Prepaid expense 10,000

Property and equipment 425,000

Trade receivable 175,600

What is the amount of the total current assets?