E 21 Aa BbceDate AaBbCcDd AaBbCc AaB Caption1 Heading 1 Heading 2 Hea Question 3 part (a) (13 marks) Using the pro forma provided prepare a statement of cash flows. BEAN CRUSHER Cash Flow Statement for the year ended 30 June 2020 $ Cash Flows from Operating Activities Receipts from customers $ 120 742 Payments to suppliers & employees 79,285 Cash generated by operations Interest received Interest paid Income tax paid Net cash from Operating Activities Cash Flows from Investing Activities Payment for plant & equipment Proceeds form sale of land Net cash from Investing Activities Cash Flows from Financing Activities Drawings Net cash from Financing Activities Net increase / decrease in cash held Cash at the beginning of the year Cash at the end of the year Important - Show all calculations on the next page: ACCT1008 Accounting for Bu BEAN CRUSHER INCOME STATEMENT FOR THE YEAR ENDED JUNE 30, 2020 $ $ Net Sales 120 742 COS 45 200 280 44 920 75 822 Less: Discount received Gross Profit: Other Revenue: Interest received 40 75 862 21 524 354 5 400 Expenses: Selling & Admin Expense Doubtful Debts Expense Depreciation Expense Interest Expense Profit before tax Income tax expense Profit 3 800 31 078 44 784 3932 40852 Additional Information: Land was sold for $100,000 cash during the year. REQUIRED: Answer this question on the following pages. ACCT1008 Accounting for Business QUESTION 3 - Statement of Cash Flows (Total 17 marks) You are provided the following financial information for The Bean Crusher, a small retail business selling coffee grinders. BEAN CRUSHER COMPARATIVE BALANCE SHEETS AS AT JUNE 30 2020 2019 $ $ 1 200 4 000 4057 1 234 11 742 4 500 28 000 18 000 Current Assets Cash on Hand Cash at Bank Accounts Receivable (net) Inventory Prepaid Expenses Non-Current Assets Plant and Equipment less Acc. Depreciation Land 1650 46 649 650 28 159 83 500 64 000 23 000 60 500 17 600 46 400 80 000 180 000 Total Assets 187 149 254 559 6 402 3425 5 256 Current Liabilities Bank Overdraft Accounts Payable Accrued Expenses Tax Payable Non-Current Liabilities Bank Loan 780 790 1 444 12 051 1 200 7 246 20 000 20 000 Total Liabilities 27 246 32 051 155 098 Net Assets 227 538 Equity Capital 155 098 227 538 155 098 227 538 (continued over page)