Preparation of a statement of cash flows   LO3, 4, 5 A summarised comparative statement of financial position of Fuchsia Ltd is presented below. 30 June 2018 30 June 2019 Cash $ 20 000 $ 91 000 Trade accounts receivable 65 000 90 000 Inventories 58 000 62 000 Prepayments 10 000 12 000 Land 80 000 90 000 Plant 280 000 320 000 Accumulated depreciation (60 000) (92 000) $453 000 $573 000 Accounts payable $ 45 000 $ 48 000 Borrowings 160 000 200 000 Share capital 200 000 230 000 Retained earnings 48 000 95 000 $453 000 $573 000 Additional information • There were no disposals of land or plant during the year. • A $30 000 borrowing was settled through the issue of ordinary shares. There were no other repayments of borrowings. • Profit for the year was $120 000, interest expense was $14 000, and income tax expense was $41 000. There were no items of other comprehensive income. • A $73 000 dividend was paid during the year. • Sales revenue for the year was $300 000. There was no other revenue. Required 1. Using the indirect method of presenting cash flows from operating activities, prepare a statement of cash flows in accordance with AASB 107/IAS 7 for the year ended 30 June 2019. 2. Prepare the operating section of the statement of cash flows using the direct method.