BALANCE SHEET AS AT DECEMBER $31,$

$20212022$

$ $ $ $ $ $

Non$-$Current Assest COST DEPN NBV COST DEPN NBV

Goodwill $70,00035,000$

Building $300,000300,000375,000375,000$

Equipment $250,00025,000225,000310,00038,500271,500$

Motor Vehicle $150,00015,000135,000180,00027,000153,000$

$700,00040,000730,000865,00065,500834,500$

Current Liabilities

Stock $22,00035,000$

Short Term Investment $40,00025,000$

Debtors $8,00015,000$

Bank $022,500$

Cash $12,00082,0006,000103,500$

$812,000938,000$

EQUITY & LIABILITIES

Capital & Reserves

Share Capital $($ $$1$ Ord Shares$)275,000275,000$

Share Premium $22,50022,500$

Reval Reserve $050,000$

General Reserves $25,50025,500$

Retained Earnings $140,500463,50080,750453,750$

Non$-$Current Liabilities

$10\%$ Debenture $297,500410,750$

Current Liabilities

Creditors $17,00022,000$

Interest $10,00026,500$

Tax Payable $14,0000$

Accounts Payable $10,00051,00025,00073,500$

$812,000938,000$

Required: $($a$)$ Prepare the cash flow statement for the year ended $2022.(20$ marks$)$

$($b$)$ Comment on the performance and financial position of the company, using

relevant items in the cash flow statement. $(5$ marks$)$