Dairy's Premium Products Ltd Statement of Comprehensive Income for the year ended 31 December 2019 Assets Dairy's Premium Products Ltd Statement of Financial Position as at 31 December 2018 & 31 December 2019 31 Dec 2019 31 Dec 2018 Cash at Bank 2,500 (1,000) RM RM Accounts Receivable 41,500 54,000 Inventory 63,000 55,000 Sales 175,000 Prepayments 4,000 2,000 Plant and Machinery 94,000 82,000 Less: Cost of goods sold (87,000) Accumulated Depreciation (16,000) (13,000) Gross Prof 88.000 189,000 179,000 Less: Liabilities Account payable 33,500 30,000 Operating Expenses 29,000 Wages 23,000 Wages due Mortgage 500 1,000 30,000 15,000 Loss on Sale of Assets Net profit before tax Tax expense Net profit after tax BR (52,000) Equity Issued Capital 60,000 60,000 36,000 Retained earnings 65,000 73,000 (10.800) 189,000 179,000 25.200 Required: (a) Prepare a Statement of Cash Flow using the Direct Method