Please show working out

2. Extracts from the financial statements for Dunder Mifflin plc for the year ended 31 December 2020 are as follows: Statement of profit or loss for the year ended 31 December 2020 '000 Revenue 2,553 Cost of sales (1.814) Gross profit 739 Distribution costs (125) Administrative expenses (264) Profit from operations 350 Investment income 25 Finance cost (75) Profit before tax 300 Income tax expense (140) Profit for the year 160 Page 5 Statements of financial position as at 31 December Year 2020 Year 2019 ASSETS '000 '000 Non-current assets Property, plant and equipment 280 214 Intangible assets 250 200 Investments 25 Current assets Inventories 150 102 Receivables 390 315 Short-term investments 152 102 Cash in hand 2 1 Total assets 1,224 959 EQUITY AND LIABILITIES Equity Share capital (1 ordinary shares) 200 150 Share premium 160 150 Retained earnings 262 100 Non-current liabilities Long-term loan 170 50 Current liabilities Trade payables 227 199 Bank overdraft 70 80 Accruals 15 120 Taxation 120 110 Total equity and liabilities 1,224 959 Additional information (1) The proceeds from the sale of non-current asset investments amounted to 30,000 (ii) Fixtures and fittings, with an original cost of 85,000 and a carrying amount of 45,000, were sold for 32,000 during the year. Question Continued Page 6 (ii) The following information relates to property, plant and equipment. 31.12.2020 31.12.2019 '000 '000 Cost 620 504 Accumulated depreciation 340 290 Carrying amount 280 214 (iv) 50,000 1 ordinary shares were issued during the year at a premium of 20p per share. () The short-term investments are highly liquid and are close to maturity. (vi) The accruals relate to interest payable. (vii) Dunder Mifflin plc paid dividends of 100,000 for the year ended 31 December 2020. (viii) Included in receivables at 31 December 2020 is 15,000 which relates to the disposal of non-current assets. (ix) Dunder Mifflin plc secured loan funding during the year, 75% of which was used to purchase a warehouse. Requirement Prepare a statement of cash flows for Dunder Mifflin plc, for the year ended 31 December 2020 in accordance with IAS 7. (36 marks)