Income Statement $($Extract$)$

for the year ended March $31,2018$

Additional information:

On December $31,2017$ plant & equipment originally costing $$30,000,000$ with

accumulated depreciation of $$23,150,000$ was disposed of for $$6,800,000.$

On September $30,2017$ a Tractor originally costing $$18,000,000$ with accumulated

depreciation of $$13,300,000$ was disposed of for $$8,000,000.$

On March $31,2018$ a new parcel of land was purchased for $$20,000,000$ in

exchange for a note payable.

On March $31,2018$ plant & equipment were purchased amounting to $$40,000,000$

Interest expense for the year was $$3,500,000$

Property, plant & equipment are depreciated on a straight$-$line basis with a useful

life of $15$ years and $10$ years for plant & equipment and trucks & tractors

respectively

Required:

Prepare the Cash Flow Statement for the year ended March $31,2018.$

$(35$ marks$)$