1 REQUIRED (20 Marks) Use the information provided below to prepare the Cash Flow Statement of Umhiali Limited for the year ended 31 December 2020. INFORMATION The following Information was extracted from the records of Umhlali Limited for the past two years: STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER: Sales Cost of sales Gross profit Operating expenses Depreciation Other operating expenses Operating profit Interest on mortgage loan Profit before tax Company tax Profit after tax 2020 (R) 1856 000 (1 280 000) 576 000 2019 (R) 1 200 000 (750 000) 450 000 (212 000) 26 000 186 000 (291 200) 30 000 261 200 284 800 238 000 (24 000) (72 000) 260 800 166 000 (90 240) (58 100) 170 560 107 900 Information extracted from the Statement of Financial Position for the past two years: STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: 2020 (R) 2019 (R) ASSETS Non-current assets 2 464 160 2444 000 Fixed assets 2 464 160 2444 000 Current assets 356 000 336 000 Inventories (all Trading inventory) 120 000 250 000 Accounts receivable 40 000 64 000 Cash & cash equivalents 196 000 22 000 2820 160 2780 000 EQUITY AND LIABILITIES Equity 2437 560 1980 000 Ordinary share capital 2 180 000 1760 000 Retained income Non-current liabilities Mortgage loan (12% p.a.) Current liabilities Accounts payable 257 560 220 000 200 000 600 000 200 000 600 000 182 600 200 000 98 000 138 000 SARS (Company tax) Shareholders for dividends 8 600 76 000 2820160 6000 56 000 2780 000 Additional information The issue price of all the shares is R10 each. New shares were issued on the first day of the financial year. Interim and final dividends for the year ended 31 December 2020 amounted to R133 000. Fixed assets were sold at carrying (book) value during the year for R144 000. Fixed assets were also purchased