Please Do Question 1 Thank You

The statements of financial position of Pierides Shipping Management plc at 31 January 2019 and 31 January 2020 were as follows: Pierides Shipping Management plc Statement of financial position at 31 January 2019 2020 000s 000s 000s 000s Assets Non-current assets Non-current assets at cost 410 362 (130) (120) Provision for depreciation Carrying value Current assets Inventories 25 Trade receivables 19 Other receivables Nil Cash and cash equivalents 23 Total assets Equity and liabilities Equity Share capital - ordinary shares 1 Share premium Retained earnings Non-current liabilities 8% debenture 2020 Current liabilities Trade payables Tax payable Total equity and liabilities NANG 22 25 12 6 180 32 38 18 7 280 65 345 250 70 25 345 240 44 21 3 242 67 309 285 Nil 24 309 Additional information On 1 February 2019, fixtures and fittings were purchased for 52 000. On 1 February 2019, equipment costing 100 000 was sold for 38 000. It had a carrying value of 40000. On 1 April 2019, a final dividend of 0.15 per share was paid to shareholders. On 30 April 2019, there was a share issue. 60000 shares were issued at a premium of 0.20. It was fully subscribed. On 31 July 2019, the debenture was repaid in full. . On 31 August 2019, an interim dividend of 0.05 per share was paid to shareholders. For the year ended 31 January 2020, the profit before taxation was 5000. Q 1 Prepare a statement of cash flows for the year ended 31 January 2020 in accordance with International Accounting Standard (IAS) 7. (28 marks) 2 Evaluate the usefulness of the statement of cash flows to the users of financial statements, making reference to the statement you have just prepared. (12 marks)