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Motivated Ltd is a retailer selling inspirational books. The following information was provided for the year ended 28 February 2022: Statement of financial position of

Motivated Ltd is a retailer selling inspirational books. The following information was provided for the year ended 28 February 2022: Statement of financial position of Motivated Ltd as at 28 February 2022 2022 - R 2021 - R Non-current assets: 53 000 27 000 Equipment 53 000 27 000 Current assets: 25 300 16 100 Inventory 4 000 3 800 Bank 21 300 12 300 Total Assets 78 300 43 100 Equity and Liabilities Equity: 55 500 29 000 Share capital: class A 33 000 25 000 Retained earnings 22 500 4 000 Total liabilities 22 800 14 100 Non-current liabilities: 15 500 4 000 Long-term loans 15 500 4 000 Current liabilities: 7 300 10 100 SARS (income tax) 3 000 2 100 Income received in advance 2 200 1 600 Trade payables 2 100 6 400 Total equity and liabilities 78 300 43 100 5 Motivated Ltd Statement of comprehensive income for the year ended 28 February 2022 R Sales income 122 000 Cost of sales expense (43 000) Gross profit 79 000 Net operating costs (44 000) Operating profit 35 000 Interest expense (4 200) Profit before tax 30 800 Taxation expense (12 300) Profit for year 18 500 Additional information: 1. Dividends were not declared during the year ended 28 February 2022. 2. Equipment with a book value of R20 000 was sold during the year. 3. The company raised loans of R14 000 during the year ended 28 February 2022. 4. The operating costs included in the statement of comprehensive income for the year ended 28 February 2022 included the following items: Bank Charges 2 000 Wages expense 24 000 Rent expense 10 000 Depreciation expense 4 000 Profit on disposal of equipment 3 000 5. 20 000 Class A shares were issued for 50c each during the year and share issue costs of R2 000 were paid in this transaction. Required: Prepare the Statement of Cash Flows for Motivated Ltd for the year ended 28 February 2022, Motivated Ltd uses the indirect method to prepare its Statement of cash flows. Show all workings

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