The following information has been extracted from the books of Hayes Limited for the year to 31 December 2016:

Additional information:
1 The directors are extremely concerned about the large bank overdraft as at 31 December 2016 and they attribute this mainly to the increase in trade accounts receivable as a result of alleged poor credit control.

2 During the year to 31 December 2016, non-current assets originally costing £15,400,000 were sold for £2,800,000. The accumulated depreciation on these assets as at 31 December 2015 was £10,640,000.

Required:
Prepare a statement of cash flows using the IAS 7 indirect method for the year to 31 December 2016.

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Statement of Profit or Loss extracts for the year ending 31 December Profit before taxation Taxation Profit for the year Note: Dividends paid Preference Ordinary 2016 £000 280 22,400 22,680 2015 £000 280 11,200 11,480 2016 £000 59,920 (14,560) 45,360 2015 £000 26,600 (8,960) 17,640