3..Hills Inc. acquired subsidiary X for 550 ($,000) in 20X2 and also bought Property, plant and equipment for 350($,000).

Hills Inc. Consolidated statement of comprehensive income for the period ended 20X2 Sales
Sales	30650
Cost of sales	-26000
Taxes on income	300
gross Profit	4650
Depreciation	-450
Administrative and selling expenses	-910
Interest expense	-400
Investment income	500
Foreign exchange loss	-40
Profit before taxation	3350
Taxes on income	-300
Profit	3050 (a)

(a) The entity did not recognize any components of other comprehensive income in the period ended 20X2

Note: Figures are in ($,000)

Additional Notes;

1.It was found out that Hills proceeds from sale of equipment was 20,000 and they also received a dividend of 200,000 and Interest of 200,000.

2.Hill Inc paid lease liabilities of 90,000

3. Had proceeds from Long-term borrowings of 250,000.

4. In May of 20x2 they paid dividend of 1200

Required: A. Prepare the Consolidated Cash Flow Statement for Hills Inc. using Indirect Method.