Question 4 The following are extracts from the financial statements of Johnson Ltd for the year ended 31 December 2012 Statement of Comprehensive Income Profit Before Tax 2,408 Tax 620 Profit for the year 1.788 Statement of Financial Position 2012 000 2011 000 7,265 5,760 3,604 5,001 0 8,605 3,720 4,896 544 9,160 Non-Current Assets Property, Plant & Equipment Current Assets Inventories Trade Receivables X Bank Total Current Liabilities Trade Payables X Bank Overdraft Taxation Dividends Payable Total Total assets less current liabilities Equity share capital Retained earnings 1,854 116 620 600 3,190 12,680 2,070 0 856 500 3,428 11,490 10,000 2,680 12,680 10,000 1,490 11,490 Additional Information (i) In arriving at profit before tax, depreciation for the year of 3,905,000 had been charged (ii) Dividends of 600,000 had been declared on 15 December 2012. Required Prepare a statement of cash flows for the year ended 31 December 2012 as required by IAS 7 using the indirect method to calculate cash flows from operating activities. (30 Marks)