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On January 1, 2017 Nizwa Paint Supply Company issued 30,000 ordinary shares of OMR 2 par value for R.0.60,000 cash. During the year the company purchased a building for R.O. 10,000. The company had the following financial statements on December 31, 2017. Assets Building Accounts Receivable Cash Total Nizwa Paint Supply Company Statements of Financial Position Dec 31, 2017 Jan 1, 2017 R.O. 10,000 0 18,000 0 60,000 0 R.O. 88,000 0 Increase/decrease 10,000 increase 18,000 increase 60,000 increase Equity and liabilities Share Capital Retained Earnings Accounts Payable Total R.O. 60,000 16,000 12.000 R.O. 88,000 OOO 60,000 increase 16,000 increase 12,000 increase 0 Nizwa Paint Supply Company Income Statement For the year ended December 31, 2017 Revenues Operating Expenses Income before tax Income tax Net Income R.O. 320,000 160,000 160,000 76,000 84,000 Additional Information: Dividends of R.O. 8,000 were paid during the year Required: Prepare a statement of Cash Flows for the year ended December 31, 2017