INVESTING ACTIVITIES
How much is the net cash used in investing activities?
Extracted text: Statement of Cash Flows, Investing Activities. The following were taken from the records of CEBU Company on December 31, 2021 regarding its non-current assets: (1) Equipment EQUIPMENT Particulars Debit Credit | January 1, 2021 – Beginning balance May 31, 2021 - Acquisition October 31, 2021 - Disposal 440,000 260,000 P 100,000 ACCUMULATED DEPRECIATION - EQUIPMENT Particulars Debit Credit January 1, 2021 - Beginning balance October 31, 2021 - Disposal December 31, 2021 - Depreciation expense 140,000 P 60,000 120,000 In addition, on the income statement of CEBU, a gain on sale of equipment amounting to P5,000 was presented. (2) Investments in Associates INVESTMENT IN ASSOCIATES Particulars Debit Credit January 1, 2021 - Beginning balance March 31, 2021- Acquisition July 31, 2021 - Disposal December 31, 2021 - Share in net income December 31, 2021 – Dividends received P 1,200,000 960,000 P 500,000 290,000 120,000 In addition, on the income statement of CEBU, a loss on sale of investment amounting to P45,000 was presented.