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Question 1 (29%) The following information has been extracted from the draft financial information of Claudius Ltd. Draft statement of financial position as at 30th June 20X7 and 30th June 20X6 are as follows: 20X7 20X6 ASSETS Non current assets Property, plant and equipment 101,107 64,270 Current assets Inventories Trade receivables Cash and Bank 27,979 11,506 3,240 22,075 14,265 294 42,725 36,634 TOTAL ASSETS 143,832 100,904 EQUITY AND LIABILITIES Equity Share capital Share Premium Account Revaluation reserve Retained earnings 29,551 11,391 15,456 11,351 27,408 10,454 6,523 7,474 67,749 51,859 Non current liabilities 6% debentures 37,184 22,844 Current Liabilities Bank overdraft Trade and other payables Current tax payable 14,336 22,417 2,146 4,151 20,082 1,968 38,899 26,210 Page 3 TOTAL EQUITY AND LIABILITIES 143,832 100,904 Statement of comprehensive income for the year ended 30th June 20x7 58,083 (31,399) 26,684 (8,959) (6,393) Revenue Cost of sales Gross Profit Distribution costs Administrative expenses Interest receivable Interest payable PROFIT BEFORE TAX Tax Expense PROFIT FOR THE PERIOD 176 (1,803) 9,705 (2,626) 7,079 . Notes: Depreciation of 6003 has been charged for the year During the year, the company realised a profit 2835 on the sale of a piece of equipment for 7578. This equipment has never been revalued, and there were no other disposals of tangible non-current assets during the year The issued share capital of Claudius Ltd comprises ordinary shares only . Required: Prepare a cash flow statement in accordance with IAS 7 for the year ended 30th June 20X7 (Total: 29 marks)