ILLUSTRATION 4. Ms. David of Star Oils Limited has collected the following information for the preparation of cash flow statement for the year 2007 : Net Profit Dividend (including dividend tax) paid Provision for Income-tax Income-tax paid during the year Loss on Sale of Assets (net) Book Value of the Assets sold ($ in Lakhs) 25,000 8,535 5,000 4248 40 185 Depreciation charged to Profit & Loss Account 20,000 Amortisation of Capital Grant 6 Profit on Sale of Investments 100 Carrying amount of Investments sold 27,765 Interest Income on Investments received during the year 2,50 Interest Expenses 10,000 Interest paid during the year 10,520 Increase in Working Capital (excluding Cash & Bank balance) 56,075 Purchase of Fixed Assets 14,560 investment in joint Venture 3,850 Expenditure on Construction Work in Progress 3474 proceed from call in Arrears Receipt og Grant for Capital Projects Proceed from Long term Barrowing 12 25980 Proceed from short term Barrowing 20575 Opening Cash and Bank Balance 5,003 Closing Cash and Bank Balance 6,988 Required. Prepare the Cash Flow Statement (by indirect method) for the year 2007 in accordance with AS-3