Question 11 35 pts QUESTION 1 DELTA LTD INCOME STATEMENT FOR 31 DEC 2019 2019 Revenue 5.250 Cost of sales (3.730) Gross profit 1.520 Expenses (868 Profit before tax 652 Corporation tax (150 Profit after tax 502 STATEMENT OF FINANCIAL POSITION AT 31 DEC 2019 2018 2019 ASSETS 2000 Non- current Assets Land at cost 360 PPE at cost 900 1150 Less: Accum Depreciation (230) 350) Net Book Value 1570 1,760 Current Assets Inventories 374 490 Trade Receivables 276 243 Cash 30 207 Total Assets 2.250 2,700 EQUITIES AND LIABILITIES Share Capital . $1 shares 500 750 Share Premium 100 220 Retained Earnings 376 758 Current Liabilities Trade Payables 420 380 Corporation Tax 140 180 Interest payable 14 12 Non- current Liabilities Debentures - 8% 500 400 Total Equity and Liabilities 2.250 2,700 You are given the following information: Plant which originally cost $90,000 was sold for cash of $20,000. The profitless on disposus included in expenses. Accumulated depreciation relating to the plant sold amounted to sea.go0 The debentures of $200,000 were repaid on 30 June 2018, Interest expense is included in expenses. Company issued 150,000 new shares at 21.80 per share during the year Dividend payment for the year was $120,900 Required Prepare the statement of cash flows fully under the indirect method. Shows you supporting workings. ( 35 marks)