Ben Limited .

STATEMENT OF PROFIT OR Loss AND OTHER COMPREHENSIVE INCOME for the Year Ended 31 December 2017

Additional Information:

(a) The proceeds of the sale of non-current asset investments amounted to €30,000.

(b) Fixtures and fittings, with an original cost of €85,000 and a net book value of €45,000, were sold for €32,000 during the year.

(c) The following information relates to tangible non-current assets:

(d) 50,000 €1 ordinary shares were issued during the year at a premium of 20c per share.

(e) Wages charged in the statement of profit or loss and other comprehensive income amounted to €90,000, of which €5,000 was unpaid at the year-end.

(f) During the year ended 31 December 2017, dividends amounting to €100,000 were debited to equity. Dividends proposed, which are included in current liabilities, were approved by the shareholders prior to the relevant reporting period date.
Requirement Prepare a statement of cash flows for the year ended 31 December 2017 for Ben Limited using both direct and indirect methods in accordance with LAS 7 Statement of Cash Flows.

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Revenue 000 2,553 Cost of sales Gross profit Distribution costs Administrative expenses (1,814) 739 (125) (264) Operating profit 350 Interest received 25 Interest paid (75) Profit before taxation 300 Taxation (140) Profit for year 160