Exercises: Direct Method The following data taken from the records of Itto Company for the year 20X5. Cash received From corporate customers P600,000 Proceeds of Long-term Debt 960,000 Proceeds from sale of furniture 150,000 Income from rent 2.760 Additional investment of Mr. Itto 150,000 From walk in customers 12,700 Dividends on stock investments 6,000 Cash paid Operating expenses Municipal license Mortgage Interest on mortgage Withdrawal of Mr. Itto Purchase of computer Cash balance on January 1, 20X5 is P555,000 Required: Prepare statement of cash flow. hp 234,000 6,720 240,000 4,800 48.000 21,600