Prepare an amended Statement of Cash Flows correcting for the two errors identified.

1. The cash flows associated with operating activities ought to be free of GST. Depending on the type of transaction, GST cash flows should be categorized as either financing or investing activities under UIG 1031.

2. You have spoken with the new accounting intern who completed the cash flow statement for the next quarter. They have confirmed that the cash flow statement did include all the transactions for the quarter ended 30 September 2022 (not just for the 2 months ended 31 August 2022).

Statement of Cash Flows

2 months ended 31 August 2022

	$	$
Cash flows from operating activities
Receipts from customers (inc. GST)	69,248.00
Payments for inventory (inc. GST)	-25,205.40
Payments for expenses	-8,001.50
Net cash from operating activities		36,041.10
Cash flows from investing activities
Payments for furniture	-1,800.00
Payments for software	-900.00
GST paid on purchases of non-current assets	-160.00
Net cash from investing activities		-2,860.00
Cash flows from financing activities
Capital invested by partners	41,000.00
Payments for drawings	-5,500.00
Net cash from financing activities		35,500.00
Change in cash balance	68,681.10
Add: Cash at the start of the period	29,231.20
Cash at the end of the period		97,912.30