Prepare a cash flow statement for Lee Ltd for the year ended 31 December 20X4 asrequired under FRS 1 using the indirect method, together with note 1 to the statement. The profit and loss account, balance sheet and cash account for Lee Ltd for the year 20X4 are given below. (Do not attempt to provide the reconciliation of net cash flow to net debt.)

Profit and Loss Account for the year ending 31 December 204 Sales Less Cost of goods sold Less Expenses Wages Other costs Depreciation Interest Profit for the year Dividend Retained profit (3,200) 300 (25050) 25 Balance Sheet as at 31 December Fixed assets at cost Less Accumulated depreciation Net book value 204 \begin{tabular}{cccc} f & & f & \\ 4,500 & & 3,800 \\ 2,300 & & 1,800 \\ \hline 2,200 & & 2,000 \end{tabular} Current assets Stock Trade debtors Cash 400150200750500200100800 Less Current liabilities Trade creditors Accrued wages Financed by: Debentures Ordinary share capital Retained profits \begin{tabular}{lclr} \hline & f & & f \\ Opening balance & 100 & Wages & 2,025 \\ Cash from customers & 6,550 & Other expenses & 600 \\ & & Cash paid to suppliers & 2,875 \\ & & Interest paid & 100 \\ & & Cash purchase of fixed assets & 700 \\ & & Cash paid to debenture holders & 100 \\ & & Dividends paid & 50 \\ & & Closing balance & 200 \\ & 6,650 & & 6,650 \\ \hline \end{tabular} Cash Account for 20X4