LO3, 5 Presentation of a statement of cash flows A summarised comparative statement of financial position of Denim Ltd is presented below, together with the statement of profit or loss and other comprehensive income for the year ended 30 June 2019 30 June 2018 30 June 2019 Cash Trade receivables Inventories Investments at fair value through OCl Plant Accumulated depreciation $ 30 000 46 000 30000 35 000 125 000 (23 000) $243 000 $68000 70000 32 000 40 000 150000 (35 000) $325 000 30 June 2018 30 June 2019 39 000 3 000 10000 $43000 Accounts payable Accrued interest Current tax payable Deferred tax liability Borrowings Share capital Retained earnings Investment revaluation reserve 5000 12 000 1 500 100000 100000 60000 100000 31 000 60000 3 500 $243 000 $325 000 DENIM LTD Statement of profit or loss and other comprehensive income for the year ended 30 June 2019 $ 700000 (483000) 217000 (62000) (74000) (6000) 75000 (23000) 52000 Sales Cost of sales Gross profit Distribution costs Administration costs Interest Profit before tax Income tax expense Profit for the year Other comprehensive income Gain on revaluation of investments (net of tax) Total comprehensive income 3500 $ 55500 Additional information There were no disposals of investments or plant during the year . A dividend of $23 000 was paid during the year The deferred tax liability is in relation to investments. Required Using the direct method of presenting cash flows from operating activities, prepare a statement of cash flows in accordance with AASB 107/IAS 7 for the year ended 30 June 2019