Cash flow statement Please ensure that you leave yourself enough time to upload your file responses. It is recommended that you upload your file as you complete a file response question. Answer this question in an excel file and upload the file when completed. Name your file in your last name and student ID. The income statement of GYG Ltd for the year ended 30 June 2022, and its two most recent balance sheets are set out below: GYG Ltd Income Statement for the year ended 30 June 2022 $ Revenue Sales revenue 914,300 Less: Cost of sales (526,000) 388,300 Expenses: Depreciation expense (7,000) Insurance expense (4,100) Interest expense (4,500) Repairs expense (2,850) Rent expense (30,000) Wages expense (192,300) Profit 147,550 GYG Ltd Balance Sheet as at 30 June 2022 2022 2021 Assets $ $ Cash 120,000 12,000 Trade receivables 95,000 75,000 Inventories 62,000 45,000 Plant and equipment 160,000 90,000 Less: Accumulated depreciation (58,000) (51,000) 379,000 171,000 Liabilities: Trade payables 33,000 19,000 Bank loan 0 60,000 33,000 79,000 346,000 92,000 Net assets Equity: Issued share capital 151,000 41,000 Retained profits 195,000 51,000 346,000 92,000 Additional information: Ignore income tax for the purpose of this question. GYG Ltd classifies interest paid as an operating cash flow. No items of plant and equipment were sold during the year. Required: Prepare the cash flow statement for the year ended 30 June 2022, using the direct method. Show all relevant workings