Presented below are the financial statements of SIZANANI LIMITED: SIZANANI LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 28 FEBUARY 2019 R Revenue from sales 1 040 900 Cost of sales (656 300) Gross profit 384 600 Operating expenses (193 200) Finance cost (37 600) Profit before tax 153 800 Income tax expense (34 200) Profit for the period 119 600 Other comprehensive income - Total comprehensive income 119 600 SIZANANI LIMITED STATEMENT OF FINANCIAL POSITION AT 28 FEBRUARY 2019 R 2011 R 2010 ASSETS Non-current assets 445 000 412 000 Land & buildings at cost 362 500 300 000 Plant & equipment at cost Accumulated depreciation on Plant & Equipment 265 500 (183 000) 252 000 (140 000) Current assets 447 000 361 000 Accounts receivable 100 000 120 000 Inventory 180 000 220 000 Cash & cash equivalents 167 000 20 000 Prepaid expenses 600 1 000 TOTAL ASSETS 892 600 773 000 EQUITY & LIABILITIES Capital & reserves 450 100 353 000 Share capital 237 500 200 000 Retained earnings 212 600 153 000 Non-current liabilities Mortgage bond 322 500 280 000 Current liabilities 120 000 140 000 Accounts payable 64 000 97 000 SARS 26 000 18 000 Shareholders for dividends 30 000 25 000 TOTAL EQUITY & LIABILITIES 892 600 773 000 SIZANANI LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 28 FEBRUARY 2019 SHARE CAPITAL R RETAINED EARNINGS R TOTAL R Balance at 1 March 2010 200 000 153 000 353 000 Issue of shares 37 500 - 37 500 Profit for the period - 119 600 119 600 Dividends - (60 000) (60 000) Balance at 28 February 2019 237 500 212 600 450 100 Additional information: 1. Plant & equipment which cost R 24 000 were sold and accumulated depreciation to the date of sale amounted to R17 000. 2. An amount of R 20 000 was repaid on the mortgage bond. 3. Included in operating expenses are the following: Depreciation expense R 60 000 Loss on disposal of plant & equipment R 4 000 Other distribution expenses R 129 200 REQUIRED: Prepare, using direct method, the statement of cash flows of Sizanani Limited for the financial year ended 28 February 2019.