QUESTION FIVE [25] Sun Ltd is a retailer specialising in swimwear and summer clothing. The following information was taken from the accounting records for the year ended 30 September 2019. Sun Ltd Statement of comprehensive income for the year ended 30 September 2019 R Sales 976 000 Cost of sales (344 000) Gross profit 632 000 Other income 79 100 Rental income 17 600 Commission income 37 500 Profit on disposal of equipment 24 000 Distribution, administration and other expenses (431 100) Depreciation 32 000 Electricity and water 47 900 Rent expense 88 300 Salaries and wages 192 000 Sundry expenses 17 900 Finance cost (33 600) Interest expense 33 600 Profit before tax Income tax expense Profit for the year 246 400 (98 400) 148 000 Sun Ltd Statement of financial position as at 30 September 2019 (including comparative figures) Sept 2019 Sept 2018 ASSETS R R Equipment at carrying amount 424 000 216 000 Inventory 32 000 30 400 Trade debtors 15 200 18 400 Bank 135 200 80 000 Total assets 606 400 344 800 EQUITY AND LIABILITIES Equity Ordinary share capital Retained earnings 424 000 264 000 160 000 232 000 200 000 32 000 182 400 112 800 Liabilities Long term borrowings Trade payables Income received in advance SARS: Tax payable 124 000 16 800 17 600 24 000 32 000 51 200 12 800 16 800 Total equity and liabilities 606 400 344 800 Additional information: 1. Sun Ltd issued 100 000 ordinary shares on 30 June 2019. 2. Dividends of R20 000 were declared and paid in full on 15 August 2019. 3. During the year equipment with a carrying amount of R160 000 was sold and new equipment was purchased 4. The company raised a long term loan of R112 000 during the year. Required: Prepare the statement of cash flows of Sun Ltd for the year ended 30 September 2019 in compliance with the requirements of the international financial reporting standards in as much as the given information allows. Use the indirect method