all questions in this paper [100 Marks] QUESTION 1 (20 Marks) REQUIRED Study the Statement of Cash Flows given below and answer the following questions: 1.1 Calculate the amount paid out for company tax. (3 marks) 1.2 Did the company obtain funds from its financing activities? Motivate your answer with the relevant calculations. (3 marks) 1.3 Of what significance are the details of Westham Limiteds investing activities to a potential investor? (4 marks) 1.4 Write a report to the board of directors to provide an interpretation of the Statement of Cash Flows of Westham Limited for the year ended 31 December 2022. Your report must focus on the cash flows from operating activities, increase in inventory, increase in receivables, increase in payables and purchase of plant and equipment. (10 marks) INFORMATION The Statement of Cash Flows of Westham Limited for the year ended 31 December 2022 appears below: WESTHAM LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 R Cash flows from operating activities (540 000) Operating profit 2 850 000 Non-cash flow adjustment: Depreciation 1 058 700 Profit before working capital changes 3 908 700 Working capital changes (2 424 000) Increase in inventory (2 400 000) Increase in receivables (1 800 000) Increase in payables 1 776 000 Cash generated from operations 1 484 700 Dividends paid (1 200 000) Company tax paid ? Cash flows from investing activities (6 900 000) Purchase of plant and equipment (6 900 000) Cash flows from financing activities ? ? ? Net increase (decrease) in cash ? Cash balance (31 December 2021) 9 600 000 Cash balance (31 December 2022) 2 100 000