Question 3 Gena The statement of financial position of Gena, a limited liability company at 31 December were as follows ; notes year 1 year 2 Assets RM000 R M0009 FA4023 TUTORIAL QUESTIONS Non-current assets Property, plant and equipment 1 730 1,100 Investments at cost 2 100 50 830 1,150 Current Assets Inventory 80 110 Trade and other receivables 110 180 Cash 20 30 210 320 Total assets 1,040 1,470 Equity and liabilities Capital and reserves Issued capital 3 500 680 Revaluation reserve 4 100 200 Retained earnings 200 190 800 1,070 Non-current liabilities 10% loan notes 5 100 150 Current liabilities Trade and other payables 70 80 Bank overdraft 40 130 Dividends payable 6 30 40 140 250 Total equity and liabilities 1,040 1,470 Notes 1 During the year tangible property, plant and equipment with a net book value of RM80,000 were sold for RM60,000. The depreciation charge for the year on all property, plant and equipment held at the end of the year was RM100,000. 2 Investments which cost RM50,000 were sold during the year for RM40,000. 3 Genas issued new share capital 80,000 shares were during the year at a price of RM2.25 per share. 4 Genas property was revalued upwards by RM100,000 during the year. 5 RM50,000 of 10% loan notes were issued on 1 January year 2. All interest to 31 December year 2 has been paid. 6 The dividends payable are on Genas equity share capital. No interim dividends were paid. Required: Prepare Genas statement of cash flows for the year ended 31 December year 2 complying with IAS 7 Statements of cash flows as far as possible. Ignore taxation.10 FA4023 TUTORIAL QUESTIONS Operating profit before working capital 175 Net cash from operating activities 40 Net cash from used in investing activities -350 Net cash flow from Financing Activities 230