B Group recognised a gain of P$160,000$ on the translation of the financial statements of a $75\%$ owned foreign

subsidiary for the year ended $31$ December $2019.$ This gain is found to be made up as follows:

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P

Gain on opening net assets: $45,000$

Non$-$current assets $15,000$

Receivables $25,000$

Payables $(20,000)$

Cash $1,000$

The overseas subsidiary made no profit or loss in the year. No goodwill arose on acquisition.

B Group recognised a loss of P$35,000$ on retranslating the parent entity$$s foreign currency loan. This loss has been

recorded in the statement of profit or loss.

Consolidated Statements of Financial Position as at $31$ December

$20192018$

Non$-$current assets $1,050,000850,000$

Inventories $325,000240,000$

Receivables $495,000400,000$

Cash $250,00080,000$

$2,120,0001,570,000$

Share capital $500,000500,000$

Reserves for the group $800,000385,000$

$1,300,000885,000$

Non$-$controlling interest $260,000185,000$

Equity $1,560,0001,070,000$

Long$-$term loan $125,00090,000$

Payables $435,000410,000$

$2,120,0001,570,000$

During the year there was no Non$-$current assets disposal

Consolidated statement of profit or loss for the year ended $31$ December $2019$

Profit before tax after deducting depreciation of P$110,0001,050,000$

Taxation $(325,000)$

Profit for the year$($Group$)725,000$

Profit attributable to:

Shareholders of the parent $595,000$

Non$-$controlling interest $130,000$

Net profit for the period $725,000$

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Note: P$240,000$ was dividend paid during the year by the owners of B group.

Required

Prepare a statement of cash flows for the year ended