Construct a Statement of Cash Flow using Direct and Indirect Method with the following given:

The statement of financial position of Ayala Trading as of December 31, 2022 shows the following account balances:

Cash 93,000 Accounts receivable - 165,000 Allowance for doubtful accounts - 2,000 Notes receivable (trade) - 45,000 Merchandise inventory - 105,000 Prepaid operating expenses - 6,000 Accrued commission revenue - 12,000 Furniture and equipment - 240,000 Accumulated depreciation - furniture and equipment - 40,000 Accounts payable - 93,000 Accrued operating expenses - 9,700 Unearned interest revenue - 300 Share capital - 500,000

Cash transactions during 2023 are summarized below: Cash sales - 351,100 Collections from customers after deducting P3,600 sales discounts - 623,000 Collections on trade notes receivable - 60,000 Receipt of cash upon issuance of a 60-day, 12% note to the bank - 30,000 Collections of interest revenue - 400 Collections of commission revenue - 45,000 Refund for purchase returns - 2,000 Cash purchases - 103,000 Payments to creditors after deducting P5,100 purchase discounts - 506,000 Acquisition of new furniture - 6,000 Payments of operating expenses - 275,000

Other transactions during 2023 are as follows:

Worthless accounts receivable written off against the existing allowance - 1,500 Sales returns and allowances credited against the accounts receivable - 2,000 Purchase returns and allowances debited against accounts payable - 1,000

Additional information gathered from various records and other business documents reveals the assets and liabilities of Ayala Trading as of December 31, 2023: Cash? Accounts receivable - 155,000 Allowance for doubtful accounts - 2,500 Merchandise Inventory - 124,000 Prepaid operating expenses - 6,800 Accrued commission revenue - 5,000 Furniture and equipment - 246,000 Accumulated depreciation - furniture and equipment - 65,000 Accounts payable - 86,000 Notes payable - 30,000 Accrued interest expense - 200 Accrued operating expenses - 8,500