Prepare the Consolidated Cash Flow Statement for Hills Inc. using Indirect Method.

3. Hills Inc. acquired subsidiary X for 550($,000) in 202 and also bought Property, plant and equipment for 350($,000). Hills Inc. Consolidated statement of comprehensive income for the period ended 20X2 Sales 30,650 Cost of sales (26,000) Gross profit 4.650 Depreciation (450) Administrative and selling expenses (910) Interest expense (400) | Investment income 500 Foreign exchange loss ( 40 ) Profit before taxation 3,350 Taxes on income ( 300) Profit 3,050(a) (a) The entity did not recognize any components of other comprehensive income in the period ended 202 Hills Inc. Consolidated statement of financial position as at end of 20X2 202201 Assets Cash and cash equivalents 230160 Accounts receivable 1,9001,200 Inventory 1,000 1,950 Portfolio investments 2,500 2,500 Property, plant and equipmant net 2.280 850 Total assets 6.660 11:39B Profit 3,050(1) (a) The entity did not recognize any components of other comprehensive income in the period ended 20X2 Hills Inc. Consolidated statement of financial position as at end of 202 202201 Assets Cash and cash equivalents 230160 Accounts receivable 1,9001,200 Inventory 1,0001,950 Portfolio investments 2,500 2,500 Property, plant and equipment net 2.280850 Total assets 6,660 Liabilities Trade payables 250 1.890 Interest payable 230100 Income taxes payable 400 1,000 Long-term debt 2,300 1,040 Total liabilities 3,180 4,030 Shareholders' equity Share capital 1,2501,500 Retained earnings Total shareholders' equity Total liabilities and shareholders' equity Note: Retained earnings Total shareholders' equity Total liabilities and shareholders' equity Note: Figures are in ($,000) Additional Notes; 3,230 7,910 1,3802,6306,660 1.It was found out that Hills proceeds from sale of equipment was 20,000 and they also received a dividend of 200,000 and Interest of 200,000 . 2.Hill Inc paid lease liabilities of 90,000 3. Had proceeds from Long-term borrowings of 250,000 . 4. In May of 202 they paid dividend of 1200 Required: A. Prepare the Consolidated Cash Flow Statement for Hills Inc. using Indirect Method. (30marks)