ma Statement of Cohesive Income for Smart (ory anded 30 June 2020 000 Cost of sales 62 000 33576 6000 39 576 Other operating income Gross operating pront Operating expenses Operating profit Financing costs Profit before taxation Taxation for the year Profit after taxation 2.400 1926 578 1 348 21350 Statement of Financial Position for Cash Smart (Pty) Ltd as at 30 June 2020 2020 2019 R000 R'000 Assets Non-current assets Property, plant and Equipment (o carrying value) 19 BSO Current assets Inventories 7 142 7 380 Trade receivables 15 952 129 Cash and cash equivalents 13 092 9 876 Total assets 57 536 50 094 Equity and liabilities Ordinary share capital (par value of R0.50) Share premium Retained earnings Non-current liabilities 12 000 6 000 S 235 10 000 5 000 4 607 24 000 Current Tax pays Total and Habits 104 1 197 57 536 1165 50 094 Actional information The company declared and paid a dividend of 3 cents per ordinary share at year-end 2020. The company had no outstanding payment of dividende A depreciation amount of R1 milion was included in the operating expenses for the year ended 2020. There was no disposal of non-current assets but replacement equipment was purchased during the year ended 30 June 2020 Required 4.1 Prepare the Statement of Cash Flows for the year ended 30 June 2020 using the direct method (20) Prepare 4.1 using the following T-accounts: 4.2.1 Trade receivables (2) 4.2.2 Inventory (2) 4.2.3 Trade payables (3) Tax payable (3) Note: Use T-accounts where necessary. In addition to the T-accounts, show all other relevant workings. Ensure all negative amounts are in brackets. TOTAL MARKS: 70 ma Statement of Cohesive Income for Smart (ory anded 30 June 2020 000 Cost of sales 62 000 33576 6000 39 576 Other operating income Gross operating pront Operating expenses Operating profit Financing costs Profit before taxation Taxation for the year Profit after taxation 2.400 1926 578 1 348 21350 Statement of Financial Position for Cash Smart (Pty) Ltd as at 30 June 2020 2020 2019 R000 R'000 Assets Non-current assets Property, plant and Equipment (o carrying value) 19 BSO Current assets Inventories 7 142 7 380 Trade receivables 15 952 129 Cash and cash equivalents 13 092 9 876 Total assets 57 536 50 094 Equity and liabilities Ordinary share capital (par value of R0.50) Share premium Retained earnings Non-current liabilities 12 000 6 000 S 235 10 000 5 000 4 607 24 000 Current Tax pays Total and Habits 104 1 197 57 536 1165 50 094 Actional information The company declared and paid a dividend of 3 cents per ordinary share at year-end 2020. The company had no outstanding payment of dividende A depreciation amount of R1 milion was included in the operating expenses for the year ended 2020. There was no disposal of non-current assets but replacement equipment was purchased during the year ended 30 June 2020 Required 4.1 Prepare the Statement of Cash Flows for the year ended 30 June 2020 using the direct method (20) Prepare 4.1 using the following T-accounts: 4.2.1 Trade receivables (2) 4.2.2 Inventory (2) 4.2.3 Trade payables (3) Tax payable (3) Note: Use T-accounts where necessary. In addition to the T-accounts, show all other relevant workings. Ensure all negative amounts are in brackets. TOTAL MARKS: 70