As financial accountant for Grovers Co$,$ you are responsible for the preparation of a statement of

cash flows for the year ended $31$ March $20$X$9.$ The following information is available.

STATEMENT OF FINANCIAL POSITION AS AT $31$ MARCH $20$X$9$ STATEMENT OF FINANCIAL POSITION AS AT $31$ MARCH $20$X$9$

$20$X$9$ $m $208$$$m$

$\backslash$table$[[$Non current assets,,$],[$Property Plant equipment,$327,264],[$Current assets,,$],[$Inventory$,123,176],[$Trade receivables,$105,87],[$Short term investments,$65,30],[$Cash in bank and in hand,$29,-],[,,],[$Equity$,,],[$Share capital $$1$ shares,$200,120],[$Share premium,$30,-],[$Retained earnings,$71,41],[$Non current liabilities,,$],[10\%$ Debentures,$166,247],[$Current liabilities,,$],[$Bank overdraft,$-,22],[$Trade payables,$143,70],[$Income tax payable,$39,57],[,649,557],[,,]]$ Dividends paid during the period$-22$

Property, plant and equipment held by Elmgrove Co are items of plant and equipment and

freehold premises. During $20$X$9$ items of plant and equipment which have a carrying amount of

$$48$m at the date of disposal were disposed of$,$ resulting in a loss of $$16$m

Short term investments :The short$-$term investments meet the definition of cash equivalents per

IAS $7$ Statement of Cash Flows

$10\%$ debentures :On $1$ August $20$X$8$ $$50$m of $10\%$ debentures was converted into $$50$m of $$1$

ordinary shares.

The depreciation charge for the year included in the statement of profit or loss was $$43$m$.$

Required

Using the information provided, prepare a statement of cash flows for Elmgrove Co for the year

ended $31$ March $20$X$9$ using the indirect method.