lecorice Ltd began 2015 with cash of $53000. During theyear, Licorice earned revenue of $592000 and collected $616000 from customers. Expenses for the year totalled $439000, of which Licorice paid $429000 in cash to suppliers and employees. Licorice also paid $150000 to purchase equipment and a cash dividend of $49000 to its shareholders during 2015.

Requirement

1.

Prepare thecompany's cash flow statement for the year ended 31 December 2015. Format operating activities by the direct method