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For the next 3 items: Karr Company reported net income of P3,000,000 for the current year. The following charges occurred in several accounts: Equipment 250,000 increase Accumulated depreciation 400,000 increase Note payable 300,000 increase During the year, the entity sold equipment costing P250,000, with accumulated depreciation of P120,000 at a gain of P50,000. In December, the entity purchased equipment costing P500,000 with P200,000 cash and a 12% note payable of P300,000. Question 1: What is the depreciation expense for the year? Question 2: What is the net cash used in investing activities? Question 3: What is the net cash provided by operating activities