QUESTION 2 Regimen Co. Ltd BALANCE SHEET AS AT DECEMBER 31, 2020 $ COST $ DEPN Non-Current Assets Goodwill Building Equipment 2019 $ $ $ COST DEPN NBV 100,000 260,000 260,000 210,000 15,000 195,000 470.000 15.000 555.000 260,000 290,000 35,000 550.000 35.000 $ NBV 50,000 320,000 255,000 565,000 Current Assets Stock Short Term Investment Debtors Bank Cash 22.000 15,000 22,000 10,000 12,000 81.000 636,000 20,000 30,000 13,000 0 9,000 72,000 637,000 EQUITY & LIABILITIES Capital & Reserves Share Capital ($1 Ord Shares) Share Premium General Reserves Retained Earnings 220,000 15,000 37,000 121,000 393,000 200,000 15,000 47,000 257,000 519.000 Non-Current Liabilities 10% Debenture 202,000 47,000 Current Liabilities Creditors Bank overdraft Tax Payable Dividends 17,000 0 14,000 10,000 41,000 636.000 24,000 6,000 20,000 21,000 71,000 637.000 CONDENSED INCOME STATEMENT Sales Gross Profit Profit before Tax Tax Profit After Tax Dividends Transfer to Reserves Profit for the year Retained Earnings b/d Retained Earnings c/d 2020 S 950.000 550.000 325,000 (145,000 180,000 (34,000) (10,000) 136.000 121,000 257,000 Footnotes: During the year equipment costing 40,000 with a book value of 30,000 was sold for 35,000. Please note that the PBIT for the year is $329,700 and the tax paid in the current year is $139,000 (You do not need to compute these amounts) Required: - Prepare the cash flow statement for the year. (18 marks)