Kingdom is a public listed manufacturing company. Its draft summarised financial statements for the year ended 31 December 2020 (and 2019 comparatives) are: Statements of profit or loss and other comprehensive income for the year ended 30 September 2020 2019 K000 K000 Revenue 44,900 44,000 Cost of sales (31,300) (29,000) Gross profit 13,600 15,000 Distribution costs (2,400) (2,100) Administrative expenses (7,850) (5,900) Investment properties rentals received 350 400 fair value changes (700) 500 Finance costs (600) (600) Profit before taxation 2,400 7,300 Income tax expense (600) (1,700) Profit for the year 1,800 5,600 Other comprehensive income (1,300) 1,000 Total comprehensive income 500 6,600 Statements of financial position as at 31 December 20x7 2020 2019 K000 K000 K000 K000 Assets Non-current assets Property, plant and equipment 26,700 25,200 Investment properties 4,100 5,000 30,800 30,200 Current assets Inventory 2,300 3,100 Trade receivables 3,000 3,400 Bank nil 5,300 300 6,800 Total assets 36,100 37,000 Page 15 of 15 Equity and liabilities Equity: Equity shares of K1 each 17,200 15,000 Revaluation reserve 1,200 2,500 Retained earnings 7,700 8,700 26,100 26,200 Non-current liabilities 12% loan notes 5,000 5,000 Current liabilities Trade payables 4,200 3,900 Accrued finance costs 100 50 Bank 200 nil Current tax payable 500 5,000 1,850 5,800 Total equity and liabilities 36,100 37,000 The following information is relevant: On 1 September 2020, Kingdom acquired a new investment property at a cost of K14 million. On this date, it also transferred one of its other investment properties to property, plant and equipment at its fair value of K16 million as it became owner-occupied on that date. Kingdom adopts the fair value model for its investment properties. Kingdom also has a policy of revaluing its other properties (included as property, plant and equipment) to market value at the end of each year. Other comprehensive income and the revaluation reserve both relate to these properties. Depreciation of property, plant and equipment during the year was K15 million. An item of plant with a carrying amount of K23 million was sold for K18 million during December 2020. Required: Prepare the statement of cash flows for Kingdom for the year ended 31 December 2020 in accordance with IAS 7 Statement of Cash Flows using the indirect method.