1. On December 31, 2016, IZZY Corporation presents the following information in its financial statements : From the Statement of Financial Position Cash Php 900 000 Accounts Receivables 1400 000 Inventory 850 000 Prepaid Items Accounts Payables 90 000 550 000 From the Statement of Comprehensive Income Php 7800 000 Sales Cost of Sales 5 460 000 Operating Expenses Financing Charges 1450 000 150 000

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