Problem $1$: IAS$7-$Cash flows statement

The following data are taken from the records of Al Rashid Company

$\backslash$table$[[,\backslash$table$[[,$December $31],[2021]],\backslash$table$[[,$December $31],[2020]]],[$Cash$,240,000,20,000],[$Receivables$,170,000,116,000],[$Long$-$term investments,$20,000,106,000],[$Plant assets $($PPE$),310,000,430,000],[$Account payable,$80,000,44,000],[$Share capital$-$ ordinary,$508,000,508,000],[$Retained Earnings,$112,000,40,000]]$

:Additional Information

Plant assets were sold during $2021$ for $$16,000$; A loss on selling was recognized in the income. $2.$statement for $$8,000$

Long term investments carried at a cost of $$86,000$ on $31$ December,$2020,$ were sold in $2021\mathrm{.}1.$for $$68,000$

$.$Dividends paid amounted to $$20,000\mathrm{.}3$

The total of Depreciation charged for the year was $$56,000\mathrm{.}4$

:Required

$.$Prepare the statement of cash flows for the year $2021$ in proper form

$.$Show your calculations