BASEL Company Limited (BASEL) is a public listed company in Germany and uses International Accounting Standards. Its financial statements for the year ended 31 March 2019 including comparatives are shown below: Statements of profit or loss and other comprehensive income for the year ended: 31 March 31 March 2019 2018 $ 000 $ 000 Revenue 62,000 50,000 Cost of Sales (43,600) (37,200) Gross Profit 18,400 12,800 Distribution costs (7,200) (4,800) Administrative Expenses (4,400) (3,200) Finance costs - loan interest (300) (500) - lease interest (500) (200) Profit before tax 6,000 4,100 Income tax expense (2.000) (1,500) Profit for the year 4,000 2,600 Other Comprehensive income (Note 1) 2.700 0 6,700 2,600 31 March 2018 $ 000 $ 000 21,400 Statements of financial position as at: 31 March 2019 $ 000 $ 000 ASSETS Non-current assets Property, Plant and Equipment 28,000 Deferred Development Expenditure 2,000 30,000 Current assets Inventory 6,600 Trade receivables 5,900 Bank 100 12,600 Total assets 42.600 0 21,400 7,600 4,400 2,600 14,600 36,000 Equity and Liabilities Equity Equity shares of $1 each Revaluation reserve Retained Earnings 16,000 2,700 6,400 25,100 16,000 0 3,500 19,500 6,250 Non-current liabilities 8% loan notes Deffered tax Finance lease obligation 2,800 3,000 2.400 8,200 1,600 1,800 9,650 Current liabilitites Finance lease obligation Trade payables Current tax payable Total Equity and Liabilities 1,500 5,300 2,500 1,200 4,200 1,450 9,300 42,600 6,850 36,000 NOTES 1. On 1 July 2018, BASEL acquired additional plant under a finance lease that had a fair value of $ 3 million. On this date it also revalued its property upwards by $4 million and transferred $ 1.3 million of the resulting revaluation reserve this created to deferred tax. There were no disposals of non-current assets during the period. 2. Depreciation of property, plant and equipment was $ 1.8 million and amortisation of the deferred development expenditure was $ 400,000 for the year ended 31 March 2019. REQUIRED Based on information above, prepare a statement of cash flows for BASEL for the year ended 31 March 2019, in accordance with IAS 7 Statement of Cash Flows, using the indirect method