Prepare a cashflow statement using the statements of financial position and the income statment.

Question 3 (15 Marks) Some of the most recent financial statements for Hyland Pty Ltd are shown below: HYLAND PTY LID Comparative Statements of Financial Position as at 30 Jun 2017 2018 ASSES Cash at bank $ 36 000 Accounts recevable $ 56 000 68 000 Inventory 192 000 224 000 Sales equipment 120 000 144 000 Accumulated depreciation-sales equipment (36 000) 160 000) Land 160 000 80 000 Buildings 240 000 240 000 Accumdated depreciation buildings (12 000) 20.000 $220.000 $212.000 LIABILITIES AND EQUITY Accounts payable $ 96000 $ 104000 Bank overcraft 40 000 Share Capital 10 000 38 000 Retained Earnings 524 000 520.000 $720.000 $712 000 HYLAND PTY LTD Income Statement for the rear ended 30 June 2018 $360 000 Sales reven Expenses: Cost of sales: Beginning inventory Purchases $ 192 000 224 000 476 000 224 000 Ending invertory Depreciation -- sales equipment Depreciation-buildings Other expenses (paid bn cash) Loss on say of land Loss on sale of equipment Pron 5192 000 28 000 8 000 80 000 16 000 12000 336 000 $24010 Additional information (a) All purchases and sales of inventories are on credit (o) On I July 2017, There was a fiother share issue of $28 000 (c) During the year, sales equipment costing S24 000 was sold for 58000 case (d) Half of the land on hand at the beginning of the vear was sold for $64 000 cash fe) During the year, the company withdrew cash from the business bank account in order to pay cash dividends to its shareholders The bant overdraft in the company is considered to be an integral part of the company's cash management arrangements. fe) Ignore income tax Required Prepare the statement of cash flows for Hwand Pty Ltd for the year ended 30 Jun 2018, brug the account method all workings must be shown method