hi, help me complete cash flow question.

QUESTION 3 28 MARKS Monster Trucks Limited is a puplic company in Johannesburg that trades in the selling of huge vehicles from 2009. Parts and spares are imported from the USA and the vehicles are assemble in the plant. The company is not registered for VAT and all purchases and sales are on credit. The financial yearend is on 31 December. The following financial information is available on 31 December 2020: MONSTER TRUCKS LIMITED STATEMENT OF FINANCIAL POSITION ON 31 DECEMBER 2020 2020 R ASSETS 2019 R Non-current assets: Land and buildings at revalued amount Machinery and equipment at cost Less: Accumulated depreciation - Machinery and equipment 2 765 625 1 312 500 1 781 250 -328 125 2 493 750 1 125 000 1 631 250 - 262 500 Current assets: Inventory Trade and other receivables Cash and cash equivalents TOTAL ASSETS 2 062 500 1 612 500 720 000 725 625 1 012 500 886 875 330 000 0 4 828 125 4 106 250 EQUITY AND LIABILITIES Equity: Share capital Retained earnings Revaluation reserve 3 562 500 2 156 250 1 218 750 187 500 2 343 750 1 406 250 937 500 0 Non-current liabilities: Long-term loan 187 500 375 000 Current liabilities: Trade and other payables Shareholders for dividends SARS - dividend withholding tax SARS - Company tax Bank overdraft TOTAL EQUITY AND LIABILITIES 1 078 125 937 500 79 688 14 063 46 875 0 4 828 125 1 387 500 806 250 0 0 67 500 513 750 4 106 250 MONSTER TRUCKS LIMITED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDING 31 DECEMBER 2020 2020 R Net sales 1 781 250 Cost of sales (750 000) Gross profit 1 031 250 Profit before tax 525 000 Taxation (150 000) Profit for the year 375 000 1. A sworn appraiser revalued the land and buildings during the year. 2. Interest paid during the year amounted to: i. Bank overdraft R46 500 ii. Long-term loan R84 750 3. Old machinery with a cost price of R56 250 and a carrying value of R20 625 was sold for R15 000 cash during the year. The machinery sold was replaced during the year. MARKS REQUIRED Sub- Total total 27 27 (a) Prepare the statement of cash flows using the direct method for Monster trucks limited for the year ended 31 December 2020, in accordance with IFRS. Your answer must be accompanied by the reconciliation of profit before tax note. Communications skills and layout Round off to the nearest Rand. Show all calculations. Calculations for cash received from customers and cash paid to suppliers and employees must be shown. 1 28