Only Answer Question 1 Please

Preparation of a statement of cash flows A summarised comparative statement of financial position of Bronze Ltd is presented below, together with a statement of profit or loss and other comprehensive income for the year ended 30 June 2019 LO3, 4, 5 30 June 2018 30 June 2019 $ 35000 105000 $45000 69000 (3000) 45000 53000 187 000 (35 000) $361000 Cash Trade receivables Allowance for doubtful debts Inventories Equity investments Plant Accumulated depreciation (6000) 67000 60000 225000 (53000) $433000 $65000 5000 15000 30000 80000 100000 2000 64 000 75000 Accounts payable Accrued interest Current tax payable Deferred tax Borrowings Share capital Investment revaluation reserve Retained earnings 7 000 18000 37000 100000 100000 7000 89000 $361 000 $433000 BRONZE LTD Statement of profit or loss and other comprehensive income for the year ended 30 June 2019 $1 035000 (774000) 261000 (76000) (96000) (7000) 82000 (24000) 58000 Sales Cost of sales Gross profit Distribution costs Administration costs Interest expense Profit before tax Income tax expense Profit for the year Other comprehensive income Gain on revaluation of investments (net of tax) Total comprehensive income 5 000 $ 63000 Additional information The movement in the allowance for doubtful debts for the year comprises the following $3000 5000 (2000) $6000 Balance at 30 June 2018 Charge for year Bad debts written off Balance at 30 June 2019 Equity investments are shares in other companies that are measured at fair value, with increases/ decreases being recognised in other comprehensive income, and accumulated in the investment revaluation reserve until investments are sold There were no disposals of plant during the year . A dividend of S33 000 was paid during the year There were no acquisitions or disposals of investments during the year Required 1. Using the direct method of presenting cash flows from operating activities, prepare a state- ment of cash flows in accordance with AASB 107/IAS 7 for the year ended 30 June 2019 2. Prepare the operating activities section of the statement of cash flows using the indirect method of presentation