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INFORMATION Corel Ltd's Statement of Comprehensive Income for the year ended 31 December 2018 and Statement of Financial Position as at 31 December 2017 and
INFORMATION Corel Ltd's Statement of Comprehensive Income for the year ended 31 December 2018 and Statement of Financial Position as at 31 December 2017 and 2018 are as follows: STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2018 Sales (all credit) Cost of sales Gross profit Other operating income 2 304 000 28 1 076 000 84 000 1 160 000 (260000) Distribution expenses Administrative expenses Operating profit Interest income Interest expense Profit before tax (104 796 000 68 000 772 000 184 000) 588 000 Profit after tax STATEMENT OF FINANCIAL POSITION ASAT 31 DECEMBER: 2018 2017 ASSETS 2 2G4 000 2 200 000 Property, plant and equipment Land and buildings Plant and machinery Current assets Inventories Trade and other receivables (ll accounts receivable) Cash and cash equivalents Total assets 954 000 1 300 000 720 000 164 000 400 000 156 000 2 984 000 964 000 1236000 660 000 176 000 424 000 60000 2 860 000 EQUITY AND LIABILITIES Equity Ordinary share capital Retained earnings Non-current liabilities 1 452000 704000 960 000 600 000 600000 600000 556000 532 000 440 000 Current liabilities Trade and other payables SARS: Income tax Total equity and liabilities 64 000 2860 000 2 984 000 1 Additional plant and machinery were purchased during 2018. There were no other non-current asset acquisitions or disposals. Depreciation for the year amounted to R316 000 2 An interim dividend of R200 000 was paid on ordinary shares during the year 3- The return on equity for 2017 was 18%. REQUIRED Use the information provided above to prepare the Cash Flow Statement of Corel Limited for the year ended 31 December 2018
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