CASH FLOW STATEMENT-EXAMPLE JOTS Company: Income Statement for the year ended 31 March 2008 (in Internal format) Sales 100 Cost of Sales 30 Gross Profit 70 Experses Depreciation 5 Loss on disposal 2 Other 13 Operating profit Tax Dividends Profit for the year Retained earnings b/f Retained earnings / 188 1688 20 2007 Balance Sheets (Internal format) As at 31" March 2008 Non-Current Assets Cost Acc Depreciation 98 BO 30 50 Current Assets Inventory Receivables Cash 10 34 12 56 15 21 3 39 Current Liabilities Payables 11 Tax 16 8 24 21 35 Net Current Assets Net Assets 918 65 45 Equity Share Capital Retained Earnings 45 55 100 20 65 Assets which originally cost 12 and which had a netbook value at time of sale of 1 were sold for ce Question 3 Prepare a Statement of Cash Flows for the company in line with IAS7. The following Information for the year ended 31 December 2021 belongs to CHESNUT PLC. Extracts from the statement of profit or loss for the year ended 31 December 2021 E'000 Finance costs (1,000) Investment income 450 Profit before tax 37,500 Taxation 10,8750 26,625 Profit for the year Extracts from the Statement of financial position as at 31 December 2021 '000 '000 2021 2020 Non-current assets 108,205 66,435 Current assets Inventory Receivables Cash 8,900 16,012.5 5112.5 30,025 138,230 24,087.7 11,355 2657.5 38.100 104,535 Total assets Current liabilities Bank overdraft Trade payables Taxation 3,075 18,905 1072.5 10,910 6.900 18,882.5 7550 29.530 Non-current liabilities Loan Total Liabilities TOTAL NET ASSETS 20,000 49.530 88,700 25,750 44,632.5 59,902.5 Equity Capital and liabilities Ordinary share capital 48,412.5 43,740 Retained earnings 40,287.5 16, 163,5 88,700 59,902,5 Additional information: The depreciation expense for the year was 11,645,000 Assets with a carrying value of 4,935,000 were disposed of at a profit of 1,8 00,000