Problem 18.24 Statement of cash flows Comparative information as at 30 June 2020 and 30 June 2021 for Pretentious Ltd is as follows. PRETENTIOUS LTD Comparative Statemente of Financial Position as a 0 June 2020 ASSETS Cash at bank $ 124 000 Accounts receivable 152000 Inventory 248000 125 000 Vaidings 275 000 Accumulated depreciation - buildings 1170 000) Plant and equipment 80 000 Accumulated depreciation - plant and equipment (10 000) 5624000 LIABILITIES AND EQUITY Account able 121 000 Interest payable 1 Other expenses payable 17 500 Mortgage loan payable 90 900 Share capital 250 000 Retained earnings 344000 824000 2021 $16000 169 000 227000 50 DOG GOO 000 (200 000) 80 000 2000) $ 822 000 134 000 500 6000 132 500 20 200 000 22 000 Additional information 1. Gruss profit for the year ended 30 June 2021 was S321 000, and consisted of: 2. Purchases of inventory for the year were 5545 000. 3. All purchases and sales of Inventories were on credit 4. Profit for the year ended 30 June 2021 was $62 500, after deducting expenses of S258 500 from the grass profit figure. 5. Expenses of $258 500 include depreciation on buildings, and on plant and equipment, a loss on sale of land, and $10 000 in interest expense. 6. During the year ended 30 June 2021, cash dividends were paid. 7. Building extensions were paid for during the year, and a block of land, costing S75000, was sold for 562 500 cash. 8. No plant was purchased or sold during the year. Required Prepare the statement of cash flows for Pretentious Ltd for the year ended 30 June 2021 using the direct method. Show minus figures in 1) c.g (342) Balance byd Balance c'd Profit for the period Cost of Goods sold Dividends paid Extensions Cash from customers Sales Purchases Cash paid Other expenses Interest expense Cost of land sold Dividends paid