A summarised comparative statement of nancial position of Hunt Ltd is presented below, together with a statement of prot or loss and other comprehensive income for the year ended 30 June 2018. Hunt Ltd Balance Sheet as at 30 June 2018 2017 $000 $000 Cash at bank 49 28 Trade receivables 168 137 Allowance for doubtful debts (25) (29) Inventories 245 343 CURRENT ASSETS 437 479 Plant at cost Accum depreciation plant Building at cost Accum depreciation- buildings Deferred tax asset NON-CURRENT ASSETS TOTAL ASSETS 979 952 Accounts payable 219 246 Accrued Expenses Interest payable Dividend payable Current tax liability CURRENT LIABILITIES Bank Loan 60 0 NON-CURRENT LIABILITIES 71 7 TOTAL LIABILITIES 448 418 NET ASSETS 531 534 Share capital 400 400 Retained earnings 131 134 TOTAL EQUITY 531 534 Hunt Ltd Statement of Prot or Loss and Other Comprehensive Income for the year ended 30 June 2018 Revenue $000 Sales 679 Interest income 21 Less: Cost of Goods sold 518 Other expenses 55 Doubtful debts expense 8 Interest expense 17 Depreciation Buildings 42 Depreciation Plant 8 Loss on sale of Plant 7 Prot before tax 28 L Income Tax Expense 19 Prot after tax for the year 26 Other comprehensive income - Total comprehensive income 26 Additional information: (a) A plant costing $49,000 was sold during the year. Accumulated depreciation at the time of sale was $22,000. No purchase of plant during the year. (b) New buildings were purchased in cash during the year. No disposal of buildings during the year. (c) There are no cash sales during the year. (d) A cash loan was raised during the year. (c) The company pays tax once only before the end of nancial year. (i) The income tax rate is 30%. Rguired: a) From the data presented above, prepare the statement of cash ows for the year ended 30 June 2018, using the direct method. (13 Marks) b) Also prepare a note reconciling the net cash om operating activities to prot. (7 Marks) Note: You are required to show ALL workings and round up to the nearest dollar