XYZ Company reported net income of P9,000,000 for the current year. Changes occurred in certain accounts as follows: Equipment - P750,000 increase; Accumulated depreciation P1,200,000 increase; Notes payable - P900,000 increase. During the year, the entity sold equipment costing P750,000, with a carrying value P390,000 for a gain of P150,000. In December of the current year, the entity purchased equipment costing P1,500,000 with P600,000 cash and a 12% note payable for the remainder. What amount should be reported as net cash provided by operating activities?

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