Question 3 The extracted income statement and comparative statements of financial position for WII Pte Ltd are provided as follows: WII Pte Ltd Comparative Statements of Financial Position 31 December, 20X1 and 20x2 20X2 20X1 Assets 5 Current assets: Cash 32,500 89,000 Accounts receivable 109,000 76,000 Inventory 21.000 33.000 Prepaid rental 77,000 66,000 Total current assets 239,500 264,000 Non-current assets: Patent, net 400,000 425,000 PPE, net 570.000 560,000 Total assets 1.209.500 1.249,000 Liabilities and Shareholders' Equity Current liabilities: Accounts payable 92.000 84,000 Interest payable 1500 15000 Unearned revenue 22,000 16,500 Income tax payable 2,000 3.500 Non-current liabilities: Bonds payable Total current liabilities 150,000 267.500 300,000 419.000 Shareholders' equity Share capital Retained earnings Total shareholders' equity 400,000 542,000 942,000 400,000 430,000 830,000 1,209,500 Total liabilities and shareholders' equity 1,249,000 Page 2,430,000 785,000 WII Pte Ltd Extract from the Income Statement For the year ended 31 December, 20X2 $ Sale revenue Cost of goods sold (1.645,000) Gross profit Salaries expense (380,000) Rent expense (73,000) Amortisation expense (25,000) Depreciation expense (80,000) Interest expense (7.500) Profit before tax Income tax expense Profit after tax (565,500) 219,500 (59,000) 160,500 Notes: 6) The company's practice is to classify interest receipts/payments and dividend receipts under operating cash flows and dividend payments under another category on the Statement of Cash Flows as allowed by the Singapore Financial Reporting Standard 7 Statement of Cash Flows. (ii) When preparing the Statement of Cash Flows, the company's practice is to present the section on cash flows from operating activities using the indirect method Required: Prepare a statement of cash flow for WII Pte Ltd for the year ended 31 December 20x2. (25 marks) END OF PAPER