The statements of financial position of Axis plc as at 31 December 2020 and 2021 and the income statement for the year ended 31 December 2021 were as follows:

1 During the year, plant (a non-current asset) costing £15 million and with accumulated depreciation of £10 million was sold.
2 The short-term investments were government securities, where there was little or no risk of loss of value.
3 The expense and the cash outflow for interest payable were equal.
4 During 2021 a dividend of £14 million was paid.
Required:

(a) Prepare a statement of cash flows for Axis plc for the year ended 31 December 2021.

(b) Prepare a reconciliation of liabilities from financing activities for the year ended 31 December 2021.

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2020 2021 m m m m Statements of financial position as at 31 December ASSETS Non-current assets Property, plant and equipment Land and building at cost Accumulated depreciation Plant and machinery at cost Accumulated depreciation Current assets Inventories Trade receivables Short-term investments 130 29 130 (30) 100 70 (32) 80 (17) 53 153 25 16 Cash at bank and in hand Total assets EQUITY AND LIABILITIES Equity Share capital Retained earnings Non-current liabilities Borrowings - 10% loan notes Current liabilities Trade payables Taxation Total equity and liabilities 41 194 12 7 224 $ b 100 36 136 20 7 8 8 100 40 8[