Aanbodde bodde AaBbCcD Norm Ne Spacing Heading Below is the information relating to Sunic and Nikolic uid for the year ended 30 June 2016. SIMIC AND NIKOLIC LTD Statement of Financial Position ms at 30 June 2016 $1000 $2000 3 150 1 240 (60) 1520 00 5 910 1220 1 100 (50) 1 300 40 3 610 7 Assets Current assets Cash Accounts receivable Allowance for doubtful debts Inventory Prepaid insurance Total current assets Non-current assets Land Buildings Accumulated depreciation buildings Plant and equipment Accumulated depreciation plant and equipment Office equipment Accumulated depreciation office equipment Patents Total non-current assets Total assets 1 630 2.100 (540) 1 454 (440) 430 (270) 260 4 624 $10 534 1 900 1 670 (500) 1 258 (610) 380 (190) 280 4 188 $7 798 SU Liabilities and equity Current liabilities Accounts payable Accrued expenses Interest payable Income tax payable Final dividend payable Total current liabilities Non-current liabilities Borrowings Total liabilities Equity Share capital Revaluation surplus General reserve Retained earnings 750 160 100 1 100 000 2&10 500 280 80 1 120 500 2.480 3000 S 810 2 200 4 680 1400 260 300 2704 424 STO 534 1 000 300 200 16 9118 9 Total equity Total liabilities and equity POS SIMIC AND NIKOLIC LTD Statement of Profit or Loss for the year ended 30 June 2016 $7000 Sales revenue Gain from sale of land Gain on sale of equipment $'000 14 126 210 230 14 566 8 876 28 250 140 Less expenses Cost of sales Bad debts expense Depreciation Insurance expense Interest expense Amortisation patents Other expenses Profit before income tax Income tax expense Current year Under-provision from previous year Profit for the period 20 1 796 I 11 290 3276 100 1 180 5 2096 Additional information (dollar amounts expressed in full units): 1. Equipment with an original cost of $500 000 was sold during the year. 2. Land with an original value of $600 000 was revalued upwards by S160 000 during the year. 3. A bonus share dividend of $200 000 was paid from the revaluation surplus. 4. An interim dividend was paid during the year. Required Prepare a statement of cash flows, using the direct method. (Hint: This statement of cash flows is more complex, so you will need to reconstruct all the statement of financial position accounts to solve it.)