Honest Company had the following activities during the current year: • Acquired shares in Responsible Corporation for P1,200,000. • Acquired a P2,000,000, 3-years certificate of deposit from a bank. During

Honest Company had the following activities during the current year: • Acquired shares in Responsible Corporation for P1,200,000. • Acquired a P2,000,000, 3-years certificate of deposit from a bank. During the year, Honest received P100,000 of interest. • Collected dividends of P75,000 on share investments. • Sold an equipment with a book value of P500,000. The company incurred a loss of P50,000. amount should be reported as net cash used in investing activities? a. (750,000) b. (1,200,000) c. (2,750,000) d. answer not given

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