Question 19 The statement of financial position of Michael Limited at 31 December, 2017 and 2018 were as follows: Trade payables Bank overdraft Notes 1. Tangible assets: During the year tangible assets with a net book value of GH80,000 were sold for GH60,000. The depreciation charge for the year on all tangible assets held at the end of the year was GH&100,000. 2. Investments: Investments which cost GH50,000 were sold during the year for GH40,000. 3. 10% Loan notes: GH \( \Varangle 50,000 \) of 10% loan notes were issued on 1 January 2018. All interest to 31st December has been paid. 4. Stated capital: The Company's stated capital at 31 December 2017 consisted of \( \mathrm{GH} \Varangle 500,000 \) of ordinary shares. Another 80,000 shares were issued during the year at a price of GH2.25 per share. 5. Capital surplus: The freehold land and buildings were revalued upwards by GH100,000 during the year. Required: Prepare the company's statement of cash flows for the year ended 31 December 2018 complying with IAS 7 Statements of cash flows. Ignore taxation