Em Intermediate-level exercises 1.3 Torrent ple's income statement for the year ended 31 December 2016 and the statements of financial position as at 31 December 2015 and 2016 are as follows: Income statement for the year ended 31 December 2016 m Revenue 623 Cost of sales (353) Gross profit 270 Distribution expenses (71) Administrative expenses (30) Other operating income 27 Operating profit 196 Interest payable (26) Profit before taxation 170 Taxation 36 Profit for the year 134 Statements of financial position as at 31 December 2015 and 2016 2015 2016 Em ASSETS Non-current assets Property, plant and equipment Land and buildings 310 310 Plant and machinery 325 314 635 624 Current assets Inventories 35 Trade receivables 139 180 180 Total assets 815 804 EQUITY AND LIABILITIES Equity Called-up ordinary share capital 200 300 Share premium account Revaluation reserve 69 Retained eamings 123 197 432 Non-current liabilities Borrowings - loan notes 250 150 Current liabilities Borrowings (all bank overdraft) Trade payables Taxation 23 18 133 148 Total equity and liabilities 815 804 During 2016, the business spent 67 milion on additional plant and machinery. There were no other non-current asset acquisitions or disposals. There was no share issue for cash during the year. The interest payable expense was equal in amount to the cash outflow. A dividend of 80 million was paid. Required: Prepare the statement of cash flows for Torrent pic for the year ended 31 December 2016 41 145 40 9 506 56 54 89 41