Problem 5 Zero Na Corporation has been undergoing liquidation since January 1. As of March 31, its condensed Statement of realization and liquidation is presented below: Assets: Assets to be realized 1,400,000 Assets acquired 750,000 Assets realized 1,200,000 Assets not realized 1,375,000 Liabilities: Liabilities liquidated 1,875,000 Liabilities not liquidated 1,700,000 Liabilities to be liquidated 2,250,000 Liabilities assumed 1,625,000 Revenues and Expenses: Supplementary charges/debits 3,125,000 Supplementary credits 2,800,000 Determine the following: 1. The net gain/loss for the three-month period ending March 31 is: 2 . Assuming that the common stock and deficits are P1,500,000 and P400,000, respectively, how much is the cash ending balance? 3. Using the assumptions in no. 11, compute for the cash balance beginning