Question 4 (30 marks) The following represents the financial statements of Cash Smart (Pty) Ltd. Use the information contained therein and other information provided to answer the questions that follow: Statement of Comprehensive Income for Cash Smart (Pty) Ltd for the year ended 30 June 2020 R'000 95 576 62 000 33 576 6 000 39 576 Sales revenue Cost of sales Gross profit Other operating income Gross operating profit Operating expenses Operating profit Financing costs Profit before taxation Taxation for the year Profit after taxation 35 250 4 326 2 400 1 926 578 1 348 R'000 Statement of Financial Position for Cash Smart (Pty) Ltd as at 30 June 2020 2020 2019 R'000 Assets Non-current assets Property, plant and Equipment (@carrying value) 21350 19 850 Current assets Inventories 7 142 7 380 Trade receivables 15 952 12 988 Cash and cash equivalents 13 092 9 876 Total assets 57 536 50 094 Equity and liabilities Ordinary share capital (par value of R0.50) Share premium Retained earnings Non-current liabilities 12 000 6 000 5 235 10 000 5 000 4 607 20 000 34 000 Long teman Current Tre able Tax paye Total quty and liabilities 104 112 5516 tonalformation: The company declared and paid a dividend of 3 cents per ordinary share a year-end 2020. The company had no outstanding payment of dividench A depreciation amount of R1 milion was wcluded in the operating expenses for the year andud 2020 There was no disposal or non-current assets but replacement egulament was purchased during the year anded 30 June 2020 Required: 4.1 Prepare the Statement of Cash Flows for the year ended 30 June 2020 using the direct method (20) 4.2 Prepare 4.1 using the following T-accounts: 4.2.1 Trade receivables (2) 4.2.2 Inventory (2) (3) 4.2.3 Trade payables 4.2.4 (3) Tax payable Note: Use T-accounts where necessary. In addition to the T-accounts, show all other relevant workings. Ensure all negative amounts are in brackets TOTAL MARKS: 70