BKAR1013 Financial Accounting & Reporting! QUESTION 1 Kelah Putih Bhd is a company selling computer-related parts. The following are condensed financial data of Kelah Putih Bhd for the year ended 31 December 2022. Kelah Putih Bhd Statement of Profit or Loss and Other Comprehensive Income For the Year Ended 31 December 2022 Sales revenue Cost of goods sold Gross profit RM 1,400,000 800,000 600,000 Operating expenses: Depreciation expenses 80,000 Administrative expense 208,000 Selling expense 140,000 Total operating expense 428,000 Operating income 172,000 Other income (expense): Loss on sale of investment 2,000 Interest expenses 1,000 Income from continuing operations before tax 169,000 Income tax expense 40,000 Income from continuing operation 129,000 BKAR1013 Financial Accounting & Reporting I 2022 2021 RM RM NON-CURRENT ASSETS: Long term Investments 80,000 100,000 Equipment 320,000 160,000 (-) Accumulated depreciation (80,000) (48,000) Equipment 320,000 212,000 CURRENT ASSETS: Prepaid insurance 12,000 10,000 Accounts receivable (net) 140,000 110,000 Inventory 160,000 200,000 Cash 17,000 60,000 329,000 380,000 TOTAL ASSETS 649,000 592,000 EQUITY: Share capital Retained earnings 232,000 260,000 325,000 256,000 NON-CURRENT LIABILITIES: Long term notes payable 80,000 48,000 CURRENT LIABILITIES: Accounts payable 8,000 24,000 Wages payable 880 1,040 Income taxes payable 3,120 2,960 BRAR1013 Financial Accounting & Reporting I 12,000 28,000 92,000 76,000 TOTAL EQUITY AND LIABILITIES 649,000 592,000 Additional information: 1. An equipment costing RM80,000 was sold for its book value of RM32,000. 2. A long-term investment was sold for RM18,000. 3. The outstanding notes are long-term. RM32,000 note was issued during 2022. REQUIRED: Prepare the Statement of Cash Flows for Kelah Putih Bhd for the year ended 31 December 2022 using indirect method in accordance with MFRS 107 Statement of Cash Flows.