17.11 Presentation of a statement of cash flows LO3, 5 A summarised comparative statement of financial position of Denim Ltd is presented below, together with the statement of profit or loss and other comprehensive income for the year ended 30 June 2019 30 June 2018 30 June 2019 Cash Trade receivables Inventories Investments at fair value through OCI Plant Accumulated depreciation 30 000 46 000 30 000 35 000 125 000 (23 000) 243000 39 000 3 000 10 000 68 000 70 000 32 000 40 000 150 000 (35 000) 325 000 43000 5 000 12 000 1500 100 000 100 000 60 000 3 500 $ 325 000 Accounts payable Accrued interest Current tax payable Deferred tax liability Borrowings Share capital Retained earnings Investment revaluation reserve 60 000 100 000 31 000 S 243 000 DENIM LTD Statement of profit or loss and other comprehensive income for the year ended 30 June 2019 Sales Cost of sales Gross proft Distribution costs Administration costs Interest Profit before tax Income tax expense Profit for the year Other comprehensive income Gain on revaluation of investments (net of tax) Total comprehensive income 700 000 () 217 000 62 000) 74 000) (6 000] 75 000 (23 000) 52 000 483 000 3 500 55 500 Additional information There were no disposals of investments or plant during the year. A dividend of $23 000 was paid during the year The deferred tax liability is in relation to investments. Required Using the direct method of presenting cash flows from operating activities, prepare a statement of cash flows in accordance with AASB 107/IAS 7 for the year ended 30 June 2019