prepare a statement of cash flow for the year ended 31 December 2020, Using the indirect Method

12. A. John is a sole proprietor who prepares financial statements annually to 31 December. His summarised statements of financial position for the last two years are shown below. 2020 2019 E E E Non-current assets Equipment at cost 20,150 21,950 Less: Accumulated depreciation 12,090 8.780 8,060 13,170 Current assets Inventory 14,820 12,040 Trade receivables 10,670 13,920 Cash 850 26,340 790 26,750 Total assets 34,400 39,920 Current liabilities Trade payables 12,460 10,380 Bank overdraft 1,600 (14,060) 2,400 (12,780) Non-current liabilities Loan from T. Ben 3,000 (3,000) 8,000 (8,000) Net assets 17,340 19,140 Capital Opening balance Add: Net profit for the year Cash introduced 19,140 1,200 17,200 5,940 3,000 26,140 (7,000) 19,140 20,340 (3,000) 17,340 Less: Drawings Total capital Additional information: Depreciation of equipment during the year was 4,030. Equipment costing 1,800 was sold for 1,300 cash when the carrying amount was 1,080. Required: 10:53 PM