166 Caltrick Ltd is involved in manufacturing swimming pool accessories. Caltrick Ltd's statement of financ positions for the years ended 30 June 2015 and 30 June 2016 are presented below. 2016 2015 ($000) ($000) Assets Cash Accounts receivable 54 52 Property, plant and equipment 156 120 Accumulated depreciation property, plant and equipment (36) (20) Inventory 92 52 Total assets 432 204 Liabilities Bank overdraft 40 Accounts payable 60 60 Accrued wages 20 16 Provision for annual leave 8 12 Loans 60 Total liabilities 148 128 Net assets 284 76 Represented by: Shareholders' funds Share capital (ordinary shares) 140 20 Revaluation surplus 28 8 Retained earnings 116 48 Total shareholders' funds 284 76 899 The statement of comprehensive income (extract) of Caltrick Ltd for the year ended 30 June 2016 is: 2016 ($000) Revenues Sales 152 Interest (no interest receivable at year end) 4 Profit on sale of property (which had a carrying amount of $20 000) 8 Expenses Cost of goods sold (40) Depreciation (20) Wages (20) Employees annual leave _(16) Profit for the year 68 . INTEREST AND DIVIDEND ARE CONSIDERED IN OPERATING ACTIVITIES IN ACCORDANCE WITH AASB107. REQUIRED Prepare a statement of cash flows using direct method for Caltrick Ltd for the year ended 30 June 2016. Comparatives are not required. Ignore tax effects. (7 marks)