Consolidated Statement of comprehensive Income for year end 30/6/19 P P Gross Revenue 22,505,000 Operating Profit 818,515 Interest Received 1,780 Profit before tax 820,295 Taxation Current 380,825 Deferred (14,425) 366,400 Profit after tax 453,895 Share of Associate's earnings Dividends received 1,000 Share of retained earnings 10,045 11,045 464,940 Non-controlling interest (27,340) Consolidated Net profit for the year 437,600 Consolidated statement of changes in equity for year end 30/6/19 Accumulated loss 30/6/18 (175,000) Net profit for the year 437,600 Dividends declared and paid (183,600) Transfer to non-distributable reserves (10,045) Balance b/d 68,955 Q P - ASM - 0 0 1 | R e v 0 0 4 Page 3 of 7 Consolidated Statement of Financial Position as at 30/6/19 2019 2018 Non-Current Assets P P Land and Building 1,250,000 1,000,000 Plant and Machinery 440,000 375,000 1,690,000 1,375,000 Investments in Associates 95,630 85,585 Current Assets Inventory 575,000 500,000 Trade receivables 234,065 249,440 Cash at bank 391,805 415,045 2,986,500 2,625,070 Equity and Liabilities Ordinary share capital 500,000 500,000 Preference share Capital 150,000 100,000 650,000 600,000 Share Premium 25,000 0 Special non-distributable reserve 260,045 0 Retained earnings 68,955 0 Accumulated loss 0 (175,000) 1,004,000 425,000 Non-Controlling Interest 368,195 340,855 Long term loan 1,055,555 1,335,000 Differed Taxation 103,075 117,500 2,530,825 2,218,355 Current Liabilities Trade payables 103,080 286,715 Accrued Taxation 230,095 0 Short term portion of long term loans 122,500 120,000 2,986,500 2,625,070 Additional information 1. 50 000 Preference shares of P1 each were issued during the year at a premium of P0.50 each. 2. The land and Building have been revalued at P1.25 million by a professional valuer. 3. Plant and machinery with a carrying amount of P125,000 was sold for P200,000. Q P - ASM - 0 0 1 | R e v 0 0 4 Page 4 of 7 4. The operating profit was calculated after taking the following items into account. Interest paid P175,500 Depreciation P81,500 5. The cost of goods sold constituted 50% of gross revenue. 6. All sales and purchases were on credit basis. Required Prepare a Consolidated Cash flow statement for the Year Ending 30/6/19 using the Direct method