Column1 - 58 49 - Column1 Column Colum (i)Non-current assets-property, plant bnd equipment, balances at 30 June 2019 were fi) to (v) 5,675 4,785 Revenue 2,300 Cost or valuation: ROOO ROOO 1 Non-current assets Property, plant & equipment Deferred development expenditure Current assets (vi) 170 69 Cost of Sales! -450 Property 1 4,150 380 385 1850 Plant 1 2,350 Inventory -200 Equipment 95 1 80 985 7485 Trade receivables 190 145 -15 Depreciation: 1 1 Cash and cash equivalents 95 160 Administratio ! n expenses Loss on disposal of Profit from operations Interest payable 1 Profit before tay Income tax 1,635 Property 450 6225 5239 -95 Plant 1,350 Equity & liabilities Equity Pagine 1,540 -455 Equipment Netbook value Pages 900 2,700 4785 3,142 Page 4 Share capital (vii) 910 760 1085 1 Share premium (vii) ) Profit after 1 tax 1 Other comprehensi! ve Income Revaluation of property, net Total comprehensive incom 600 1685 665 600 2,899 660 410 250 Revaluation reserve Retained earnings Non-current liabilities Deferred tax Long-term loans Current liabilities Trade payables Income tax Interest payable Provision for restructuring fix) costs Provision for legal claim (viii) 400 0 1,982 1500 0 1,500 597 85 305 32 491 60 (ii) Equipment was purchased during the year at a cost of R275,000 and plant (iii) During the year MJ disposed of plant with a book value of R30,000 and accumulated depreciation of R60,000. (iv) On 1 July 2019 property was revalued to R4,500,000. At that time the average remaining life of property was 90 years. Property is depreciated on a straight line basis. (v) Depreciation for the year was R280,000 and R40,000 for plant and equipment respectively. (vi) Development expenditure incurred during the year to 30 June 2020 was R114,000. Deferred development expenditure is amortised over its useful economic life. (vii) MJ issued equity shares during the year at a premium. (viii) Provision was made by MJ for outstanding legal claims against the entity at the year end. ix) The restructuring costs relate to a comprehensive restructuring and re-organisation of the entity that began in 2018. MJ's financial statements for the year ended 30 June 2019 included a provision for restructuring costs of R100,000. Restructuring costs incurred in the year to 30 June 2020 were R160,600. No further restructuring and re-organisation costs are expected to occur. MJ treats restructuring costs as a cost of sales. 1 1 321 5 0 100 1 105 6225 75 5239 Required: Prepare a statement of cash flows, for MJ for the year ended 30 June 2020 using the indirect method, in accordance with the requirements of IAS 7 Statement of Cash Flows. (25 marks) . Column1 - 58 49 - Column1 Column Colum (i)Non-current assets-property, plant bnd equipment, balances at 30 June 2019 were fi) to (v) 5,675 4,785 Revenue 2,300 Cost or valuation: ROOO ROOO 1 Non-current assets Property, plant & equipment Deferred development expenditure Current assets (vi) 170 69 Cost of Sales! -450 Property 1 4,150 380 385 1850 Plant 1 2,350 Inventory -200 Equipment 95 1 80 985 7485 Trade receivables 190 145 -15 Depreciation: 1 1 Cash and cash equivalents 95 160 Administratio ! n expenses Loss on disposal of Profit from operations Interest payable 1 Profit before tay Income tax 1,635 Property 450 6225 5239 -95 Plant 1,350 Equity & liabilities Equity Pagine 1,540 -455 Equipment Netbook value Pages 900 2,700 4785 3,142 Page 4 Share capital (vii) 910 760 1085 1 Share premium (vii) ) Profit after 1 tax 1 Other comprehensi! ve Income Revaluation of property, net Total comprehensive incom 600 1685 665 600 2,899 660 410 250 Revaluation reserve Retained earnings Non-current liabilities Deferred tax Long-term loans Current liabilities Trade payables Income tax Interest payable Provision for restructuring fix) costs Provision for legal claim (viii) 400 0 1,982 1500 0 1,500 597 85 305 32 491 60 (ii) Equipment was purchased during the year at a cost of R275,000 and plant (iii) During the year MJ disposed of plant with a book value of R30,000 and accumulated depreciation of R60,000. (iv) On 1 July 2019 property was revalued to R4,500,000. At that time the average remaining life of property was 90 years. Property is depreciated on a straight line basis. (v) Depreciation for the year was R280,000 and R40,000 for plant and equipment respectively. (vi) Development expenditure incurred during the year to 30 June 2020 was R114,000. Deferred development expenditure is amortised over its useful economic life. (vii) MJ issued equity shares during the year at a premium. (viii) Provision was made by MJ for outstanding legal claims against the entity at the year end. ix) The restructuring costs relate to a comprehensive restructuring and re-organisation of the entity that began in 2018. MJ's financial statements for the year ended 30 June 2019 included a provision for restructuring costs of R100,000. Restructuring costs incurred in the year to 30 June 2020 were R160,600. No further restructuring and re-organisation costs are expected to occur. MJ treats restructuring costs as a cost of sales. 1 1 321 5 0 100 1 105 6225 75 5239 Required: Prepare a statement of cash flows, for MJ for the year ended 30 June 2020 using the indirect method, in accordance with the requirements of IAS 7 Statement of Cash Flows. (25 marks)