Pex Ltd is a public company and extracts of its financial statements are provided below:

Summarised income statements for the year ended 31 December 2020 31 December 2020

MUR 000

Revenue 5,106

Cost of sales (3,628)

Gross profit 1,478

Other income: interest received 50

Distribution costs (250)

Administrative expenses (528) .

Finance costs (150)

Profit before tax 600

Income tax expense (280)

Profit for the year 320

Summarised statements of financial position as at

31 December 2020 31 December 2019

MUR 000 MUR 000

Assets

Non-current assets

Property, plant and equipment 760 660

Intangible assets 500 400

Current assets

Inventory 300 204

Trade receivables 780 630

Total assets 2,340 1,894

Equity and liabilities

Equity

Equity shares of MUR 1 each 400 300

Share premium 320 300

Revaluation reserve 200 182

Retained earnings 520 360

Non-current liabilities

Debentures 260 100

Restoration provision 80 -

Current liabilities

Trade payables 254 238

Tax 240 220

Bank overdraft 66 194

Total equity and liabilities 2,340 1,894

Additional information

1. During the year Pex Ltd made an issue of 100,000 equity (ordinary) shares at MUR 1.20 each.

2. Some tangible non-current assets were revalued upwards by MUR 18,000 during the year.

3. Some property, plant and equipment originally acquired at a cost of MUR 170,000 with a net book value of MUR 90,000 was sold for MUR 64,000. The accumulated depreciation at the date of sale stood at MUR 80,000

. 4. The following additional information is available for property, plant and equipment

Non-current asset schedule extract

31 December 2020 31 December 2019

MUR 000 MUR 000

Cost 1,440 1,240

Accumulated depreciation (680) (580)

Carrying amount/net book value 760 660

5. During the year ended 31 December 2020 Pex Ltd created a restoration provision of MUR 80,000 in line with its sustainable development policy and this amount was included in the carrying amount of property, plant and equipment.

6. Dividends payments amounted to MUR 160,000 was made on all issued equity shares at the end year.

REQUIRED (a) Prepare a statement of cash flows for Pex Ltd for the year ended 31 December 2020 in accordance with IAS 7 Statement of cash flows.