61.CASH is KING ltd, a limited liability company, has non-current assets with a carry value of 300,000 on 1st December 2019. This company is preparing financial statements for the year ended 31 December 2020. Statement of profit or loss for the year ended 31 December 2020 Revenue 6,000 Cost of sales (3,600) Gross Profit 2,400 Distribution costs (480) Administrative expenses (240) Investment income 1170 Finance cost (585) Profit before tax 2,265 Taxation (30) Profit for the year 2,235 CASH is KING ltd.'s STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2020 NON-CURRENT ASSETS 2020 2019 Cost 120 80 Acc Depreciation (72) (48) Carrying Value 48 32 Current Assets Inventory 108 90 Receivable 4,789 1,298 Cash in hand 20 10 Total current assets 4,917 1,398 Total Assets 4,965 1,430 EQUITY Share Capital ($1 ordinary shares) 1,600 800 Share Premium account 295 135 Revaluation surplus 77 70 Retained Earnings 2,435 200 Non-Current 6 % Loan note 360 60 Current liabilities Trade payables 135 90 Bank overdraft 63 45 Taxation 0 30 Total equity & liabilities 4,965 1,430 Additional information 1. During the year ended 31 December 2020, the company sold a piece of equipment for $20, realizing a profit of $10. There were no other disposals of non-current assets during the year. 2. Depreciation of $30 has been charged. 3. There were no amounts outstanding in respect of interest payable or receivable as at 31 December 2019 or 2020. 4. There were no dividends paid or declared during the year. Required: what should be the amount of net cashflows generated from operating activities:Required to answer. Single choice.

(2 Points)

1,239

(1,764)

None of above

(1,239)

1,764