ACCTN102-188 (HAM) 1. Cash and Cash Reporting (Total: 20 marks) (a) Cash Flow Statement The extract taken from the Income Statement for Kiwi Food Ltd are provided below: Sales Cost of goods sold Wages expenses Interest expenses Insurance expenses Operating Profit $800,000 (S300,000) ($200,000) ($20,000) ($40,000) $560,000 $240,000 Additional information extracted from the Balance Sheet for Kiwi Food Ltd showed: 31 May 2018 1 June 2017 4,000 30,000 80,000 Prepaid Insurance Account Payable Wages Payable Interest Payable Inventory Account Receivable 7,000 40,000 70,000 1,000 80,000 40,000 2,000 60,000 30,000 Required: Determine the net cash flow from operating activities using the Direct Method. Set out your answer in the Cash Flow Statement format. Ignore GST implications for this question. (8 marks) eTr