Prepare Cash flow statement using both methods (Indirect and Direct).

Financial Position S S Financial Statement for the year ended 31 December 2015 Note 2015 2014 Note $ Non Current Assets Revenue 30,650,000 Fixed Assets 730,000 850,000 Other income 640,000 Non Current Investments 2,500,000 2,500,000 31,290,000 3,230,000 3,350,000 Current Assets Inventories 1,950,000 Expenses 2 900,000 Cost of material consumed 26,000,000 Current Investment (Marketable) 670,000 135,000 Finance cost (Interest expenses) 400,000 trade receivable 1,700,000 1,200,000 450,000 other current assets (interest Depreciation 100,000 Other expenses (Admin and selling) 910,000 receivable) cash 200,000 25,000 Total Expenses 27,760,000 6,800,000 6,660,000 Profit before tax 3,530,000 Current Liabilities Trade Payable 150,000 1,890,000 Less: Tax -300,000 Other current liabilities 630,000 1,100,000 Profit After tax 3,230,000 780,000 2,990,000 Non-Current Liabilities Financial Notes Long term borrowings 1,110,000 1,040,000 Note 1 1,890,000 4,030,000 Interest income 300,000 Dividend income 200,000 Equity 1,500,000 1,250,000 Insurance proceeds 140,000 Share capital Retained earnings 3,410,000 1,380,000 640,000 6,800,000 6,660,000 Additional information: An amount of $250,000 was raised from the issue of share capital and a further Financial Notes $250,000 was raised from long-term borrowings. 2015 2014 Note 1 $ Interest expense was $400,000 of which $170,000 was paid during the period. Tangible 2,180,000 1,910,000 $100,000 relating to interest expense of the prior period was also paid during the Less: Accumulated Depreciation -1,450,000 -1,060,000 period. Dividends paid were $1,200,000. 730,000 850,000 Tax deducted at source on dividends received (included in the tax expense of $300,000 for the year) amounted to $40,000. Note 2 During the period, the enterprise acquired Fixed Assets for $350,000. The payment Interest Payable 230,000 100,000 was made in cash. Income Tax Payable 400,000 1,000,000 Plant with original cost of $80,000 and accumulated depreciation of $60,000 was sold for $20,000. 630,000 1,100,000 Trade Receivables and Trade Payables include amounts relating to credit sales and credit purchases only. You are required to: Prepare the Cash Flow Statement for the year ended December 2015 based on Direct and Indirect method