Motor vehicles (5 490) (6 300) Accumulated depreciation motor vehicles Total assets 53 350 62 110 Liabilities Bank overdraft 400 160 Accounts payable 6 150 7 950 Long-term mortgage 14 100 18 900 Total liabilities 20 650 27 010 Net assets 32 700 35 100 Equity Share capital 25 000 25 000 Retained earnings 7 700 10 100 Total equity 32 700 35 100 LONG BEACH LTD Income Statement for the year ended 30 June 2023 ($1000) Sales (on credit) 16 800 Less: Cost of goods sold 5 100 Gross profit 11 700 Less: expenses (including depreciation) Profit 8 610 3 090 Additional information: Insurance expense for the year ended 30 June 2023 is nil. All other expenses were paid in cash (excluding depreciation). The company declared and paid cash dividend. The bank overdraft was considered to be part of the entity's everyday cash management activities. Required: Prepare a statement of cash flows using the direct method for the year ended 30 June 2023 (show all workings).