Given below are the financial statements of Bluered Bhd for the year ended 31 December 2020: BLUERED BHD Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2020 Revenue RM 2,525, 000 Cost of sales 1,550,000 Gross profit 975,000 Gain on sale of motor vehicle 5,200 980,200 Wages and salaries 235,000 Administrative expenses 268,200 Director's remuneration 110,000 Rent expenses 9,000 Depreciation 116,100 Interest expenses 27,500 Loss on sale of machinery 8,000 773,800 Profit before tax 206,400 Taxation 55,000 Profit after tax 151,400 BLUERED BHD Statement of Financial Position as at 31 December Non-current asset Land Motor vehicle 2020 RM 2019 RM 359,000 250,000 650,000 536,000 (115,200) 482,500 420,800 570,000 498,300 (212,900) 436,800 285,400 Accumulated depreciation (167,500) Machinery Accumulated depreciation (228,600) Current asset Inventories 269,800 272,000 Accounts receivable 314,700 289,700 Short term investment Bank 4,500 440,300 2,300 288,500 2,307,600 1,808,700 Equity and reserve Ordinary shares Asset revaluation reserves Retained profit 1,032,000 109,000 260 200 800,000 08 980 Non-current liabilities Bank loan 5% Debentures Current liabilities 200,000 250,000 120,000 Accounts payable 459,420 535,500 Tax payable 10,500 Accrued wages and salaries 5,800 6,320 Accrued administrative 10,500 7,900 expenses 2,307,600 1,808,700 Additional information: 1. Land was revalued. There was no new acquisition of land during the year. 2. Depreciation charged for the year for motor vehicles and machinery were RM78,600 and RM37,500 respectively. 3. A motor vehicle costing RM71,800 was sold during the year for RM50,700. 4. An existing machinery costing RM120,000 was sold during the year for cash. 5. Dividend paid for the year ended 31 December 2020 was RM38,400. Required: Prepare the Statement of Cash Flows for Bluered Bhd for the year ended 31 December 2020 using a direct method in accordance with MFRS 107 Statement of Cash Flows