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What was dominic inc net cash flow from operating activity

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Reference no: EM132760272

An analyst compiled the following information for Dominic, Inc. for the year ended December 31, 2020:

  • Net income was P1,700,000.
  • Depreciation expense was P400,000.
  • Interest paid was P200,000.
  • Income taxes paid were P100,000.
  • Common stock was sold for P200,000.
  • Preferred stock (eight percent annual dividend) was sold at par value of P250,000.
  • Common stock dividends of P50,000 were paid.
  • Preferred stock dividends of P20,000 were paid.
  • Equipment with a book value of P100,000 was sold for P200,000.

Problem 1: Using the indirect method, what was Dominic, Inc.'s net cash flow from operating activities for the year ended December 31, 2020?

a. P1,900,000

b. P2,000,000

c. P1,630,000

d. P1,700,000

Reference no: EM132760272

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