1 Blackheath plc's Income Statement for the year ended 31 December 2021 and the Statements of Financial Position as at 31 December 2020 and 2021 are as follows: Income Statement for the year ended 31 December 2021 Revenue Cost of sales Gross profit Administrative expenses Operating profit Net interest payable Profit on ordinary activities before taxation Taxation Profit on ordinary activities after taxation m 3,240 1,530) 1,710 (650) 1,060 (46) 1,014 (320) 694 Statement of Financial Position as at 31 December 2020 and 2021 2020 2021 m m Non-current assets Land 1,200 1,500 Plant and equipment 680 754 1,880 2,254 Current assets Inventories 156 375 Trade receivables 132 241 Cash and Cash equivalents 703 288 1,319 Total assets 2.168 3,573 Shareholders equity and liabilities Capital and reserves called up share capital 1,150 1,350 Share premium account 320 460 Retained earnings 274 818 1,744 2,628 Non-current liabilities Borrowings Current liabilities Overdraft Trade payables Tax payable 430 64 240 375 120 140 424 515 2,168 3,573 During 2021, the business spent 590m on additional non-current assets. There were no other non-current assets acquisitions or disposals. A dividend of 150m was paid on ordinary shares during the year. Required (a) Prepare a cash flow statement for Blackheath plc for the year ended 31 December 2021. (13 marks) b) Make any relevant comments about Blackheath's plc's cash flow statement which you feel should be drawn to the attention of its management. (12 marks)