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Below are the summarised financial statements of Cromarty Trafalgar plc for the year ending 3 0 June 2 0 2 1 : Summarised Income Statement

Below are the summarised financial statements of Cromarty Trafalgar plc for the year ending 30 June 2021: Summarised Income Statement for the year ending 30th June 2021:Sales800Cost of Sales (530)Gross Profit270Distribution and administration costs (55)Operating Profit215Interest Receivable 30Interest Payable (40)Profit before taxation 205Taxation(80)Profit after taxation125 Dividends for the year were 40,000 leaving retained profits of 85,000 Statement of Financial Position30.6.2130.6.20000000Non-Current Assets1,4001,050Current assets:Stock/Inventory300420Receivables/debtors250130550550Current liabilities:Payables/Creditors 480230Interest payable 5030Tax 7040Bank overdraft 340660(940)(960)Net current liabilities(390)(410)Total net assets1,010640 Capital and reserves:Share capital 1 ordinary shares700625Share premium210-Retained profits 100151,010640 Additional information:1.Additions to non-current assets during the year were 750,000 at cost2.The depreciation charge for the year was 150,0003.The assets disposed of during the year made a net loss of 75,0004.The amount of interest received was the same as that credited to the income statement.

Required:Prepare a statement of cash flows using the indirect methodCromarty Trafalgar Cash Flow Statement for the year ended 30 June 2021  

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