- ... Discover Journals, B.... S Which of the follow.... ve... www.jstor.org + Q H Page view A Read aloud The statement of financial position of Michael Limited at 31 December, 2017 and 2018 were as follows: Notes 31/12/2018 31/12/2017 GH000 GH000 Non-current assets 730 1,100 Tangible assets 2 100 50 Investment at cost 830 1,150 Current assets 80 110 Inventory 110 180 Receivables 20 30 Cash at banks 210 320 1,040 1,470 500 680 Equity Stated capital Capital surplus 100 200 200 190 Income surplus 800 1,070 Non-current liabilities 3 10% loan notes 100 150 900 1,220 Current liabilities 100 120 Trade payables 40 130 Bank overdraft 140 250 1,040 1,470 Notes 1. Tangible assets: During the year tangible assets with a net book value of GH$80,000 were sold for GH 60,000. The depreciation charge for the year on all tangible assets held at the end of the year was GH100,000. 2. Investments: Investments which cost GH 50,000 were sold during the year for GH$40,000. 3. 10% Loan notes: GH50,000 of 10% loan notes were issued on 1 January 2018. All interest to 31st December has been paid. 4. Stated capital: The Company's stated capital at 31 December 2017 consisted of GH 500,000 of ordinary shares. Another 80,000 shares were issued during the year at a price of GH 2.25 per share. 5. Capital surplus: The freehold land and buildings were revalued upwards by GH100,000 during the year. Required: Prepare the company's statement of cash flows for the year ended 31 December 2018 complying with IAS 7 Statements of cash flows. Ignore taxation. 4 S The GOAT. Let's gra... Add text 5