ONLY QUESTION 1 PLEASE

LO3, 4, !5 Preparation of a statement of cash flows A summarised comparative statement of financial position of Fuchsia Ltd is presented below. 30 June 2018 30 June 2019 $ 91 000 90000 62 000 12 000 90 000 320000 (92 000) $573000 $ 48 000 200 000 230 000 95 000 $573 000 Cash Trade accounts receivable Inventories Prepayments Land Plant Accumulated depreciation $ 20000 65 000 58 000 10 000 80 000 280 000 (60 000) $453 000 $45 000 160 000 200000 48 000 $453 000 Accounts payable Borrowings Share capital Retained earnings Additional information There were no disposals of land or plant during the year. A $30000 borrowing was settled through the issue of ordinary shares. There were no other repayments of borrowings. Profit for the year was $120 000, interest expense was $14000, and income tax expense was $41 000. There were no items of other comprehensive income .A $73 000 dividend was paid during the year Sales revenue for the year was $300 000. There was no other revenue Required 1. Using the indirect method of presenting cash flows from operating activities, prepare a statement of cash flows in accordance with AASB 107/IAS 7 for the year ended 30 June 2019. 2. Prepare the operating section of the statement of cash flows using the direct method