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Q2 The following information has been extracted from the draft financial statements of Snowdrop, a limited liability company. SNOWDROP STATEMENTS OF FINANCIAL POSITION AS AT 31 MAY GHc'000 2019 GHc'000 4,600 2020 GHc000 GHC'000 2,700 580 360 170 500 230 900 Non-current assets Current assets Inventory Trade receivables Bank Total assets Equity and liabilities Equity Ordinary share capital Capital Surplus Retained earnings 940 5,540 3,600 3,500 300 1,052 4,852 2.370 150 470 2,990 0 100 Non-current liabilities 10% Loan note (redeemable 31 May 20X5) Current liabilities Trade payables Taxation Bank overdraft 450 180 58 688 5.540 365 145 0 510 3.600 Additional information: a) The statement of profit or loss for the year ended 31 May 2020 shows the following. GHc'000 Operating profit 1,042 Interest payable (10) Profit before taxation 1.032 Taxation (180) Profit for financial year 852 b) During the year dividends paid were GHc270,000. c) Profit before taxation had been arrived at after charging GHc700,000 for depreciation on non-current assets. d) During the year non-current assets with a net book value of GHc200,000 were sold for GHc180,000. Required: Prepare a statement of cash flows for Snowdrop for the year ended 31 May 2020 in accordance with IAS 7 Statement of cash flows, using the indirect method