QUESTION $1$

$(35$ marks$)$

The information are extracts from the Delta Group of Companies Consolidated statements for the just ended financial year on $31$ December $2022.$

Consolidated statement of profit or loss for the year ended $31$ December $2022$

BWP $000$

$\backslash$table$[[$Sales$,340,000],[$Cost of Sales,$-243,000],[$Gross profit,$97,000],[$Operating expense,$-22,600],[$Profit from Operations,$74,400],[$Finance costs,$-5,600\_],[$Profit before disposal of property,$68,800],[\backslash$table$[[$Profit on disposal on non$-$current$],[$assets$]],10,000],[$Profit before Tax,$78,800],[$Tax$,-25,000],[$Profit for the Period,$53,800]]$

$\backslash$table$[[,],[$Attributable to :$,],[$Non$-$ controlling interest,$1620],[$Owners of the parent,$52,180],[,53,800]]$

Statement of financial position, with comparatives, as at $31$ December $202$

$\backslash$table$[[,,2022,,2021],[,$BWP$,$BWP$,$BWP$,$BWP$],[,000,000,000,000],[,,,,],[$Non $-$current assets,,,,$],[$PPE$,202,400,,176,200,],[$Goodwill $($ note $3),23,640,,16,640,],[,,226,040,,192,840],[$Current assets,,,,$],[$Inventories$,134,000,,115,000,],[$Receivables $-$ Trade,$108,520,,105,200,],[$Cash and cash equivalents,$7,480,,15,600,],[,,250,000,,235,800],[,,476,040,,428,640],[,,,,],[$Equity and Liabilities,,,,$],[$Equity shares,$80,000,,72,000,],[$Share premium,$48,000,,40,000,],[$Retained eamings,$96,540,,73,360,],[,,224,540,,185,360],[$Non$-$controlling interest,,$15,500,,7,680],[$Total equity,,$240,040,,193,040],[,,,,],[$Non$-$current liabilities,,,,$],[$Debt $-$ Interest bearing,,$72,800,,76,800],[,,,,],[$Current liabilities,,,,$],[$Trade payables,$133,360,,131,240,],[$Interest payable,$5,440,,5,760,],[$Tax$,24,400,,21,800,],[,,163,200,,158,800],[,,476,040,,428,640]]$

The following notes are relevant to the extracts above:$1.$ Delta Group of Companies has acquired $80\%$ of the issued equity shares of its subsidiary Global Motor Holdings a few years back. On $1$ June $2022,$ Delta Group of Companies acquired $75\%$ the issued equity shares of Global Motor Holdings in exchange for a fresh issue of $8$ million of its own P$4\mathrm{.}00$ equity shares issued at a premium of P$4\mathrm{.}00$ each$)$ and P$8$ million in cash. The net assets of GMH at the date of acquisition were assessed as having the fair values below:

PPE $16,800\mathrm{.}00$

Inventories $6,600\mathrm{.}00$

Receivable $-$ Trade $5,200\mathrm{.}00$

Cash and cash equivalents $200\mathrm{.}00$

Trade Payables $(7,800\mathrm{.}00)$

Tax $(1,000\mathrm{.}00)$

$20,000\mathrm{.}00$

$2.$ PPE with carrying amount of P$4$m was disposed for of P$9$m during the year by Global Motor Holdings. This was the only disposal for the year. Depreciation of P$31\mathrm{.}8$m has been charged to the statement of comprehensive and other income.

$3.$ Delta Group of Companies has acquired two other subsidiaries and the goodwill relates to them. The goodwill was calculated based on the portion of net assets basis. Global Motor Holdings acquisition was on full goodwill basis during the year on $1$ June $2022$ and the fair value of non $$ controlling interest was P$7$m with the any impairment of goodwill during the year included in the operating expenses.

Required

Using the indirect method of $($IAS $7$ Statement of Cash Flows$)$ prepare the consolidated statement of cashflows for Delta Group of Companies as at $31$ December $2022.(35$ marks$).$