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JoJo Ltd ent tax liab loar Statement of Profit or Loss and Other Comprehensive Income tures 09a, for the year ended 30 June 2019 capital (iss al Sales $3 580 000 ing answers to d earnings questions and Cost of sales (2 864 000) 7.16 Required Gross profit 716 000 assets thod, prepare ating activitie Gain on sale of plant 16 000 Dividend income 4 000 fore tutorial hapter 17: Distribution expenses (185 000) Ise answer plete a Administrative expenses (160 000) for the (40 000) .17.14 Other expenses ation), Interest expense (8 000) Profit before tax 343 000 for Income tax expense (103 000) Profit for the year 240 000 Other comprehensive income: Gain on revaluation of land $12 000 Income tax expense (4 000) 8 000 Total comprehensive income $248 000 Additional information: . Plant with a carrying amount of $60 000 and an accumulated depreciation of $25 000 was sold for cash. A gain of $16 000 was made on the sale. . There were repayments on borrowings of $30 000 during the year. . An interim dividend was paid during the year. $30 000 of this dividend was paid through the issue of bonus shares. The balance was paid in cash. . Other expenses includes bad debts expense of $12 000. Required: Prepare a Statement of Cash Flows in accordance with AASB 107 Statement of Cash Flows, using the direct method to present the cash flows from operating activities. Show all working out separately to the presentation of the statement. (25 marks) 20