1 TEST 2-CACB002 (2022) [40 MARKS | 30 MINUTES] The following are the summarised trial balance of Toys On-Line Ltd at 30 June 2022 and 2021 respectively. [Note] YE: 2022 YE: 2021 Plant and equipment 1,2 700 000 600 000 Cost 1 100 000 800 000 Accumulated depreciation (400 000) (200 000) Investments 1,3 300 000 0 Accounts receivable 1 354 000 320 000 Inventory 300 000 360 000 Investment income receivable 2400 0 Bank 37 765 40 000 Share capital (190 000) (100 000) Retained earnings - Opening balance (371 930) (306 570) Long term loan 4 (800 000) (600 000) Accounts payable (90 000) (60 000) Accrued expenses - Rent (10 175) (9 250) Dividends payable (20 000) (40 000) Tax liability (44 940) (36 820) Interest payable (16 000) (18 000) Profit for the year 1 (231 120) (189 360) Dividends declared 80 000 40 000 NOTES: 1. Included in profit for the year, amongst others, is the following items: R Investment income - Interest received 28 800 Profit on sale of investment 3 20 000 Credit losses expense (6 000) Depreciation expense (240 000) Interest expense (64 000) Loss on sale of plant and equipment 2 (10 000) Taxation expense (89 880) 2. Plant and equipment with a cost of R100 000 were sold cash during the year. There were no other additions or disposals during the year. 3 TEST 2 CACB002 (2022) 3. An investment acquired for R60 000 during the year was disposed of on 30 June 2022 for cash. No other investments were disposed of during the financial year. 4. Long term loans of R200 000 were repaid during the year. REQUIRED: MARKS Prepare the statement of cash flows of Toys On-Line Ltd for the financial year ended 30 June 2022 using the INDIRECT method. [38] Note: Comparative figures are NOT required. Show ALL your calculations. Round all figures to the nearest Rand. Presentation and layout [2]