Exercise-L.5 You have been given the following information relating to a limited liability company called Norway...

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Exercise-L.5 You have been given the following information relating to a limited liability company called Norway Bhd. This company is preparing financial statements for the year ended 31 May 2017. Norway Bhd Statement of comprehensive income for the year ended 31 May 2017 RM'000 Revenue 66,600 Cost of sales (13,785) Gross profit 52,815 Distribution costs (7,530) Administration costs (2,516) Investment income 146 Finance cost (1,177) Profit before tax 41,738 Tax (9,857) Profit after tax 31,881 Assets Non-current assets Cost Norway Bhd Statement of financial position as at 31 May 2017 RM'000 RM'000 2016 RM'000 RM'000 144,844 Accumulated depreciation (27,433) 114,785 (26,319) 117,411 88,466 Current assets Inventory 24,931 24,065 Trade receivables 18,922 13,238 Cash 3,689 2,224 47,542 39,527 Total assets Equity and liabilities 164,953 127,993 Equity Ordinary share capital 27,000 23.331 Share premium 14,569 10,788 Revaluation reserve 15,395 7,123 Retained earnings 59,944 28,063 116,908 69,305 Noncurrent liabilities 6% loan note 17,824 24,068 Current liabilities Bank overdraft 5,533 6,973 Trade payables 16,699 20,324 Taxation 7,989 7,323 30,221 34,620 Total equity and liabilities 164,953 127,993 Additional information: (1) During the year ended 31 May 2017, the company sold a piece of equipment for RM3,053,000, realising a profit of RM1,540,000. There were no other disposals of non-current assets during the year. (2) Depreciation of RM5,862,000 has been charged. (3) There were no amounts outstanding in respect of interest payable or receivable as at 31 May 2016 or 2017. (4) There were no dividends paid or declared during the year. Required: Prepare the company's statement of cash flows for the year ended 31 May 2017, using the indirect method, adopting the format in MFRS 107 Statement of Cashflows. Exercise-L.5 You have been given the following information relating to a limited liability company called Norway Bhd. This company is preparing financial statements for the year ended 31 May 2017. Norway Bhd Statement of comprehensive income for the year ended 31 May 2017 RM'000 Revenue 66,600 Cost of sales (13,785) Gross profit 52,815 Distribution costs (7,530) Administration costs (2,516) Investment income 146 Finance cost (1,177) Profit before tax 41,738 Tax (9,857) Profit after tax 31,881 Assets Non-current assets Cost Norway Bhd Statement of financial position as at 31 May 2017 RM'000 RM'000 2016 RM'000 RM'000 144,844 Accumulated depreciation (27,433) 114,785 (26,319) 117,411 88,466 Current assets Inventory 24,931 24,065 Trade receivables 18,922 13,238 Cash 3,689 2,224 47,542 39,527 Total assets Equity and liabilities 164,953 127,993 Equity Ordinary share capital 27,000 23.331 Share premium 14,569 10,788 Revaluation reserve 15,395 7,123 Retained earnings 59,944 28,063 116,908 69,305 Noncurrent liabilities 6% loan note 17,824 24,068 Current liabilities Bank overdraft 5,533 6,973 Trade payables 16,699 20,324 Taxation 7,989 7,323 30,221 34,620 Total equity and liabilities 164,953 127,993 Additional information: (1) During the year ended 31 May 2017, the company sold a piece of equipment for RM3,053,000, realising a profit of RM1,540,000. There were no other disposals of non-current assets during the year. (2) Depreciation of RM5,862,000 has been charged. (3) There were no amounts outstanding in respect of interest payable or receivable as at 31 May 2016 or 2017. (4) There were no dividends paid or declared during the year. Required: Prepare the company's statement of cash flows for the year ended 31 May 2017, using the indirect method, adopting the format in MFRS 107 Statement of Cashflows.