1.

Zip Ltd has provided you with the following financial statements:

Statement of Financial Position as at 31 December ($000)

20192018

Non-Current Assets:

Property, Plant and Equipment1140915

Intangible assets750600

Investments-75

18901590

Current Assets:

Inventories450306

Receivables1160940

Prepayments105

Short term investments150-

Cash in hand63

17761254

TOTAL ASSETS36662844

Capital and reserves:

Share Capital ($1 each)600450

Share Premium480450

Revaluation reserve300273

Retained Earnings500330

Non-Current Liabilities:

Long term loan510150

Current Liabilities:

Trade Payables370350

Accruals117

Dividend payable280210

Bank Overdraft255294

Taxation360330

TOTAL EQUITY AND LIABILITIES36662844

Zip Ltd's Income Statement for the year ended 31 December 2019.

$ 000

Turnover7659

Cost of Sales(5442)

Gross Profit2217

Other Income: Rent received75

Distribution cost(375)

Administration cost(792)

Finance cost(225)

Profit before Tax900

Taxation(420)

Profit for the year480

The following information is available:

i.The proceeds for the sale of non-current asset investments amounted to $90,000.

ii.Property, plant and equipment with an original cost of $255, 000 and a net book value of $135,000 were sold for $96,000 during the year

iii.The following information relates to property, plant and equipment:

31.12.1931.12.18

$000$000

Cost21601785

Accumulated Depreciation10208701140915

iv.150,000 $1 ordinary shares were issued during the year at a premium of $0.20 per share.

v.The short term investments are highly liquid and are close to maturity

vi.An interim dividend of $ 0.05 per share were paid during the year following the issue of shares.

REQUIRED:

Prepare a Cash Flow Statement for the year ended 31 December 2019.(20 marks)