A comparative balance sheet and an income statement for Pineapple Ltd are as follows: 15 425 Pineapple Ltd Pineapple Ltd Comparative Balance Sheets as at 30 June 2021 Income Statement for the year ended 30 June 2021 30 June 2021 30 June 2020 $000 $000 Current Assets $000 $000 Cash 0 70 Sales Revenue 7,260 Accounts Receivable 245 170 Less: Cost of goods sold 6,287 Allowance for Doubtful Debt (47) (31) Gross Profit 973 Inventory 429 396 Discount Received Prepaid Insurance 69 72 Non-current Assets Land 210 Less Expenses: Buildings 400 265 Interest expense 50 Less: Accumulated Depreciation - Buildings (120) (85) Insurance expense 225 Equipment 145 110 Other expenses 278 Less: Accumulated Depreciation - Equipment (45) (20) Depreciation Expense-Buildings 35 Total Assets 1,501 1,157 Depreciation Expense-Equipment 29 Current Liabilities Loss on sale of equipment 17 Bank overdraft 15 0 Bad debt expense 32 666 Accounts Payable 323 255 Net profit before Tax Interest Payable 29 20 Less Income Tax expense 58 Accrued Expenses 216 90 Net Profit After Tax 264 Income Tax Payable 58 54 Final Dividend Payable 20 15 Non-current Liabilities Bank Loan 280 423 Shareholders' Equity Share Capital 190 135 Revaluation Surplus 65 50 Retained Profits 305 115 Total Liabilities and Shareholders' Equity 1,501 1,157 322 Additional Information: 1. A bonus issue of $15,000 was paid out of the revaluation surplus. 2. With the exception of land, all non-current assets are valued at cost. 3. A cash dividend was paid during the year. 4. The carrying value of equipment sold was $20,000. Required: Prepare a Statement of Cash Flows (using the direct method for Pineapple Limited for the year ended 30 June 2021 by completing the amounts in the table below. Font family - Font size Format Pineapple Ltd Statement of cash flow for the year ending 30 June 2021 $000 Cash flow from operating activities Cash received from customers Cash paid to suppliers and employees Interest paid/received Income Tax paid Net cash flow from operating activities Cash flow from investing activities Purchase of land Purchase of building Proceeds from the sale of equipment Cash paid to suppliers and employees Interest paid/received Income Tax paid Net cash flow from operating activities Cash flow from investing activities Purchase of land Purchase of building Proceeds from the sale of equipment Purchase of equipment Net cash flow from investing activities Cash flow from financing activities Increase/decrease in bank loan Proceeds from issue of shares Final Dividends paid Interim Dividends pald Net cash flow from financing activities Net Increase (decrease) in cash held Cash at the beginning of the year Cash at the end of the year
