CONSOLIDATED STATEMENT OF CASH FLOWS

Roundworm Ltd is a group of companies with a 31 December year-end.

The Roundworm group financial statements for the years 20.21 and 20.22 are given below:

Roundworm Group Ltd

Consolidated statement of comprehensive income for the year ended 31 December 20.22 (Extract)

		R
Revenue		600 000 000
Cost of sales		(300 000 000)
Gross profit		300 000 000
Operating expenses		(150 000 000)
Finance costs		(44 000 000)
Share of profits from associate		17 000 000
Profit before tax		123 000 000
Taxation		(35 000 000)
		88 000 000
Other comprehensive income:Gain on revaluation of PPE		15 000 000
		103 000 000
Profit attributable to:
- Non-controlling interests		10 000 000
- Parent shareholders		78 000 000
		88 000 000
Total comprehensible incomeattributable to:
- Non-controlling interest		12 000 000
- Parent shareholders		91 000 000
		103 000 000

Consolidated statement of financial position as at 31 December 20.21 and 20.22

(Extract)

	20.22	20.21
ASSETS	R	R
Non-Current Assets
- Property,plant and equipment	240 000 000	280 000 000
- Investments in associates	80 000 000	70 000 000
- Goodwill	25 000 000	19 000 000
	345 000 000	369 000 000
Current Assets
- Inventory	105 000 000	90 000 000
- Receivables	120 000 000	100 000 000
- Cash andcash equivalents	30 000 000	75 000 000
	255 000 000	265 000 000
TOTAL ASSETS	600 000 000	634 000 000
EQUITY AND LIABILITIES
Equity
- Share capital	100 000 000	100 000 000
- Retainedearnings	194 000 000	142 000 000
- Revaluation reserve	103 000 000	90 000 000
- Non-controlling reserve	72 000 000	40 000 000
Total Equity	469 000 000	372 000 000
Non-current Liabilities
- 12% debentures		90 000 000
- Deferred taxation	30 000 000	24 000 000
Total Non-current Liabilities	30 000 000	114 000 000
Current Liabilities
- Trade payables	65 000 000	55 000 000

- Taxation	10 000 000	8 000 000
- Bank overdraft	26 000 000	85 000 000
Total Current Liabilities	101 000 000	148 000 000
Total Liabilities	131 000 000	262 000 000
TOTAL EQUITY AND LIABILITIES	600 000 000	634 000 000

Additional information:

1. Acquisition of subsidiary

During the year ended 31 December 20.22, Roundworm purchased 80% of the issued equity share capital of Chong Ltd for R100 000 000, payable in cash. The net assets of Chong at the date of acquisition were assessed at fair value as follows:

		R
Property, plant and equipment		60 000 000
Inventory		30 000 000
Receivables		25 000 000
Bank and cash		10 000 000
Trade payables		(15 000 000)
Taxation		(5 000 000)
		105 000 000

It is group policy to measureNCI at the proportionate shareof the fair value of net assets at acquisition.

1. Goodwill

Goodwill suffered an impairment during the year.

1. Property, plant and equipment

The only disposal in the year was of land with a carrying value of R90 million. The profit on disposal of R10m is included within operating expenses. Depreciation of

R58m was charged on PPE in the year.

Prepare the Consolidated Statement of Cash Flows [IFRS] for Ringworm Group for the year ended 31 December 20.22 using the direct method.