The cash flows below were extracted from the accounts of Peter Piper, a music shop owner.

& S Loan repaid 25,000 Purchase of office equipment 15,000 Sale of property 25,000 Interest paid 350 Interest received 1,150 Payments to suppliers 175,000 Payments to employees 55,000 Expenses paid 10,000 Receipts from customers 250,000 Required:

Prepare a cash flow statement using the direct method for the year ended 31 December 2001. L01