QUESTION FOUR [20] The following information was extracted from the accounting records of Royal (Pty) Ltd for the financial year ended 31 May 2021. Royal (Pty) Ltd 31 May 2021 R 31 May2020 R 300 000 240 000 ....... 45 000 52 500 247 500 165 000 Extract: Statement of financial position as at 31 May 2021 Property, plant and equipment: Land and buildings at cost.. Equipment at carrying amount. Investment in shares... Inventory.... Trade debtors....... Prepaid expenses........... Ordinary share capital........... Retained earnings......... 12% Debentures. Trade creditors...... 186 000 180 000 55 500 42 750 . Nil 2 250 600 000 442 500 82 500 7 500 30 000 90 000 37 500 63 750 Bank overdraft 31 500 37 500 Income tax payable Dividends payable 7 500 11 250 45 000 30 000 Royal (Pty) Ltd Extract: Statement of profit or loss and other comprehensive income for the year ended 31 May 2021 31 May 2021 R Depreciation - equipment... 7500 Dividends received... 27 000 Interest expense.... 11 250 Profit before tax. 240 000 Income tax.. 75 000 Profit for the year.. 165 000 Royal (Pty) Ltd Extract: Statement of changes in equity for the year ended 2021 31 May 2021 R Dividends declared : Ordinary 90 000 Required: Prepare the statement of cash flows for Royal (Ply) Ltd for the year ended 31 May 2021 in compliance with the International financial Reporting Standards in as much as possible for this business