QUESTION 4 (20 Marks) Your friend has his own business, but was in a serious motor accident prior to finalising the financial statements for the year ended 28 February 2019. His wife asked you to please assist in preparing the cash flow statement for 2019. The following extracts from the annual reports for 2019 were provided: Income statement Revenue (sales) Cost of sales Gross profit Depreciation Loss on sale of non-current asset Interest paid Other operating expenses Profit before taxation Taxation Profit for the year 2019 5000 -2350 2650 -500 -200 -70 -1119 461 -129 332 2018 5200 -2400 2800 -400 -100 -80 -1500 720 -202 518 2019 2018 1913 26331 720 1125 1688 563 400 320 70 300 520 100 2703 2045 Balance sheet Assets Non-current assets: book value Cost Accumulated depreciation Current assets: Inventories Receivables Cash Total assets Equity and liabilities Share capital Retained income Shareholders' equity Deferred taxation Long-term loans Current liabilities: Payables Interest payable Taxation Total equity and liabilities 250 250 852 1102 870 887 565 600 500 45 2248 2773 Statement of changes in equity (2019) 2019 2019 Share capital Retained earnings Opening balance 250 620 Profit for the year 332 Dividends paid 0 -100 Closing balance 250 852 REQUIRED: Calculate the following components pertaining to the cash flow statement for the year ended 28 February 2019: - Cash flows from operating activities - Cash flows from investing activities - Cash flows from financing activities - Change in cash flows You can assume that the extracts provided (above) are all correct. Show all relevant calculations