Question 3

Flyday Berhad is a public listed manufacturing company. Its summarised financial statements for the year ended 30 September 2022 (and 2021 comparatives) are:

Statements of profit or loss and other comprehensive income for the year ended 30 September

	2022	2021
	RM000	RM000
Plant and equipment (NBV)	380	430
Intangible assets	250	75
Investments	-	25
	630	530
Inventories	150	102
Accounts receivables	390	315
Short term investments	50	-
Cash in hand	2	1
	592	418
Total assets	1,222	948
Ordinary shares	300	300
Revaluation reserves	91	91
Retained earnings	260	180
	651	571
Long term loan	170	50

Accounts payable	127	119
Bank overdraft	154	98
Taxation	120	110
	401	327
Total equities and liabilities	1,222	948

Draft income statement for the year ended

	2022
	RM000
Revenue	3,613
Less : Cost of sales	(2,874)
Gross Profit	739
Other income : interest received	25
Distribution costs	(125)
Administrative expenses	(264)
Finance costs	(75)
Profit before taxation	300
Income tax	(140)
Profit for the year	160

The following information is relevant:

i. The proceeds of the sale of non-current asset investments amounted to RM30,000.

ii. The following information relates to property, plant and equipment.

	30.09.2022 (RM)	30.09.2021 (RM)
Cost	720	720
Accumulated depreciation	340	290
Net book value (NBV)	380	430

iii. The short-term investments are highly liquid and are close to maturity.

iv. Dividends of RM80,000 were paid during the year.

Required:

Prepare the statement of cash flows for Flyday Berhad for the year ended 30 September 2022 in accordance with MFRS107 Statement of Cash Flows using the indirect method.

[15 marks]