IAS 7 Statement of Cash Flow states that cash flows provide information about the cash receipts and cash payments of an enterprise over a given period. Required: a. State the differences between a profit or loss account and a cash flow statement b. Highlights the benefits derivable by users of financial statements from the preparation of a cash flow statement. c. From the following figures, taken from the annual accounts of GCTU Ltd, prepare a cash flow statements for inclusion in the financial reports for the year ended 31st December, 2019 in compliance with IAS 7. GH Revenue 47,172,727 Non current assets 11,177,281 Current assets 10,609,108 Cash and cash equivalent (1/1/19) (648,531) Income tax paid 716,382 Receipts from customers 47,674,386 Proceeds from sales of investment 29,600 Non current assets purchased 1,935,556 Cash paid suppliers and employees 41,179,141 Dividend paid 1,266,514 Investments purchased 13,197,546 Proceed from sales of investment 36,993 Revaluation reserve 3,121,124 Interest paid on loan 645,110 Proceeds from irredeemable convertible loan stock 1,200,015 Short term loan received 6,941,395 Share capital 148,254 General reserve 2,098,598 Trading profit 2,694,916 Cash and bank balance (31st December) (3,706,391)