Prepare Cash Flow Statement Under direct method and indirect method from the following information of Meikie Company

Particulars 2019 2018

Assets

Non-current assets

Fixed Assets 2,180.00 1,910.00

Less: Accumulated depreciation - 1,450.00 - 1,060.00

a) Fixed assets 730.00 850.00

b) Non-current investments 2,500.00 2,500.00

Total 3,230.00 3,350.00

2. Current assets

a) Current investments (Marketable) 670.00 135.00

b) Inventories 900.00 1,950.00

c) Trade Receivables 1,700.00 1,200.00

d) Cash and cash equivalents 200.00 25.00

e) Other current assets 100.00

(Interest receivables)

Total 3,570.00 3,310.00

Total Assets 6,800.00 6,660.00

Equity and Liabilities

1. Shareholders' Funds

a) Share capital 1,500.00 1,250.00

b) Reserve and surplus (surplus) 3,410.00 1,380.00

Total 4,910.00 2,630.00

2. Non-current Liabilities

Long-term borrowings 1,110.00 1,040.00

(Long-term loan)

3. Current Liabilities

a) Trade payables 150.00 1,890.00

b) Other current liabilities

i) Interest payable 230.00 100.00

ii) Income tax payable 400.00 1,000.00

Total 1,890.00 4,030.00

Total 6,800.00 6,660.00

Statement of Profit and Loss for the year ended 2019

Particulars 2,019

Revenue from operation 30,650.00

Other income

Interest Income 300.00

Dividend Income 200.00

Insurance Proceeds from earthquake disaster Settlement 140.00 640.00

Total Revenue 31,290.00

Expenses

Cost of material consumed 26,000.00

Finance cost (interest expenses) 400.00

Depreciation 450.00

Other expenses 910.00

(Admn. and selling expenses)

Total expenses 27,760.00

Profit before tax 3,530.00

Less: Tax - 300.00

Profit after tax 3,230.00 Additional Information:

(i) An amount of 250 was raised from the issue of share capital and a further 250 was raised from long-term borrowings.

(ii) interest expense was 400 of which 170 was paid during the period. 100 relating to interest expense of the prior period was also paid during the period.

(iii) Dividends paid were 1,200.

(iv) Tax deducted at source on dividends received (included in the tax expense of 300 for the year) amounted to 40.

(v) During the period, the enterprise acquired Fixed Assets for 350. The payment was made in cash.

(vi) Plant with original cost of 80 and accumulated depreciation of 60 was sold for 20.

(vii) Trade Receivables and Trade Payables include amounts relating to credit sales and credit purchases only.