EXAMPLE TWO KANE CO. INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2019 AND THE STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2018 AND 2019 WERE: Ghen000 Ghc'000 Sale 720 Raw materials consumed 70 Staff Costs 94 Depreciation 118 Loss on disposal of non-current assets 18 300 Operating profit 420 28 Profit before tax 392 Taxation 124 Profit for the year 268 Interest payable interesse) KANE CO. STATEMENT OF FINANCIAL POSITION AS AT 31ST DECEMBER 2019 2018 Ghc'000 Ghc'000 Non-current assets; 1,596 1,596 (224) Cost Depreciation (318) 1.278 1.336 1372 20 24 58 Current Assets: Inventory Trade Receivables Bank 76 48 56 148 1.426 1.470 Total Assets Equity and Liability: Equity; Share capital Income Surplus 396 364 514 716 878 1.112 200 500 6 Non-current liabilities: Long term loans Current Liabilities: Trade Payables Taxation Total Equity and Liabilities 12 102 1.426 86 1.470 Dividend paid were Chc66.000 During the year the company paid he 90.000 for new piece of machinery Required: Prepare the statement of cash flows for Kane Co. for the year ended 31 December 2015 the indirect method