pinto is a publicly listed company. The following financial statements of Pinto are available Statement of comorehensive income for the year ended 31 March 2008 Revenue Cost of sales $'000 5,740 (4.840) 900 Gross profit Income from and gains on investment property Distribution costs Administrative expenses (note () Finance costs Profit before tax Income tax expense (120) (3501 (501 440 (160) Profit for the year 280 Other comprehensive income Gains on property revaluation 100 380 Total comprehensive income Statements of financial position as at 31 March 2008 s'000 '000 31 March 2007 $'000 000 Assets Non-current assets (note (1) Property, plant and equipment Investment property 2,880 420 1,860 400 2,260 3,300 1.210 810 480 540 Current assets Inventory Trade receivables Income tax asset Bank 50 nil 1.400 3.660 Total assets 1.000 600 Equity and liabilities Equity shares of 20 cents each (note (id)) Share premium Revaluation reserve Retained earnings 600 150 1,440 1,310 1,360 1,960 3,190 nil 400 1,410 1,050 120 Non-current liabilities 6% loan notes note (1) Deferred tax Current liabilities Trade payables Bank overdraft Warranty provision (note (iv)) Current tax payable Total equity and liabilities 200 150 5,000 3,660 The following supporting information is available: (i) An item of plant with a carrying amount of $240,000 was sold at a loss of $90,000 during the year. Depreciation of $280,000 was charged (to cost of sales) for property, plant and equipment in the year ended 31 March 2008. Pinto uses the fair value model in IAS 40 Investment Property. There were no purchases or sales of investment property during the year. (ii) The 6% loan notes were redeemed early incurring a penalty payment of $20,000 which has been charged as an administrative expense in the income statement. (iii) There was an issue of shares for cash on 1 October 2007. There were no bonus issues of shares during the year. (iv) Pinto gives a 12 month warranty on some of the products it sells. The amounts shown in current liabilities as warranty provision are an accurate assessment, based on past experience, of the amount of claims likely to be made in respect of warranties outstanding at each year end. Warranty costs are included in cost of sales. (v) A dividend of 3 cents per share was paid on 1 January 2008. Required: (a) Prepare a statement of cash flows for Pinto for the year to 31 March 2008 in accordance with IAS 7 (15 marks) Statement of cash flows