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QUESTION 4 Vettel Ltd is a bike dealership. The following information is available: Income Statement for the year to 31 December 2019 Revenue 38,475 Cost
QUESTION 4 Vettel Ltd is a bike dealership. The following information is available: Income Statement for the year to 31 December 2019 Revenue 38,475 Cost of sales 12.750 Gross Profit 25,725 Depreciation 1,080 Administrative expenses 1995 Operating Profit 22,650 Profit on disposal of equipment 300 Interest expense 57 Profit before taxation 22,893 Taxation 3.450 Profit for the year 19,443 Extracts from the Statements of Financial Position at 31 December 2018 and 2019 are shown below: 2018 2019 000 000 Current Assets Inventory Trade receivables Cash 700 300 40 1,200 259 2,268 Current Liabilities Trade Payables Tax payable Accrued interest 150 800 250 170 600 290 REQUIRED: Calculate cash flow from operating activities only for the year ended 31 December 2019
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