Ms. Sade is a trader Operating under the name of 'SA Traders'. She informs you that she consistently adds 33 1/3% to the costs of all goods which she sells in order to arrive at Selling prices. She presents you with the following financial statements for the year ended 31 March 2000 and 2001. INCOME STATEMENT 2001 2000 Sales net 471 100 Less cost of sales 360 900 Gross profit 110 200 Discount received 1700 111 900 Operating expenses 93 420 Net profit transferred to capital account 18 480 380 000 285 000 95 000 1 100 96 100 66 900 29 200 BALANCE SHEET AT 31 MARCH 2001 2000 ASSETS NON CURRENT ASSETS Furniture at cost Less: depreciation Motor vehicles at cost 20 000 20 000 4 000 16 000 25 000 5 000 35 000 1750 Less: depreciation 16 000 33 250 53 250 194 380 94 630 CURRENT ASSETS Stock 89 900 50 000 43 130 87 730 Debtors Cash on hand and at bank TOTAL ASSETS 16 750 1 500 247 630 73 520 110 630 84 500 OWNER'S EQUITY AND LIABILITIES Capital account Balance 1 April 26 130 18 210 Capital introduced Net profit for year 29 200 47 410 55 000 18 480 99 610 25 500 74 110 100 000 Less: drawings NON CURRENT LIABILITIES 21 280 26 130 Long term loan CURRENT LIABILITIES Creditors 10 970 Bills payable 62 550 Bank overdraft TOTAL EQUITY AND LIABILITIES 35 000 37 500 12 000 247 630 110 630 2001 2000 R 500 450 Expenses paid in cash are as follows: Advertising Bank charges Bad debts Manager's commission on sales Delivery charges Depreciation: furniture 7 750 490 15570 23 820 8 160 19 000 5 440 1 000 5020 Depreciation: motor vehicles 1 000 1 750 220 General expenses 100 250 Interest on overdraft Motor vehicle running costs 2 300 Rent 11 000 12 000 Salaries and wages 24 500 93 420 20 000 66 900 RR Cost of sales Opening stock 1 April Local purchases Overseas purchases Carriage inwards paid in cash 50 000 88 800 250 000 62 000 450 800 30 000 105 000 150 000 50 000 335 000 50 000 285 000 Less closing stock 31 March 89 900 360 900 No fixed Assets were sold during this year. Additional furniture costing R5 000 was purchased 1 April 2000. The motor vehicles were purchased on 1 April 2000 The loan of R100 000 which bears Interest at the rate of 5% p.a. Payable in arrears was obtained on 1 April 2000. Required A cash flow statement for the year ended 31 March 2001