Exercise 17.14 Preparation of a statement of cash flows A comparative statement of financial position of Aqua Ltd is presented below.

Additional information

The increase to the revaluation surplus is net of deferred tax of $4000.

Plant with a carrying amount of $60 000 (cost $85 000, accumulated depreciation $25 000) was

sold for $76 000.

• Accounts payable at 30 June 2019 include $22 000 in respect of plant acquisitions.

• There were borrowing repayments of $30 000 during the year.

• The increase in share capital of $30 000 arose from the companys dividend reinvestment

  scheme.

• Dividends declared out of profits for the year were: interim dividend $64 000, final dividend

  $60 000.

  Required Using the direct method of presenting cash flows from operating activities, prepare a statement of cash flows in accordance with AASB 107/IAS 7 for the year ended 30 June 2019, including a reconciliation of cash flows arising from operating activities and profit in accordance with AASB 1054. (LO3 and LO5)