QUESTION ONE statements for the year ended 30 September 2017 (and 2016 comparatives) are Statements of profit or loss and other comprehensive income for the year ended 30 September Kanyembo is a public listed manufacturing company. Its draft summansed financial 2017 K000 Revenue Cost of sales 44.900 (31,300) 13,600 (2,400) (7,850) Distribution costs Administrative expenses (700) (600) Finance costs 2.400 (600) Profit before taxation Income tax 1.800 (1,300) Profit for the year Other comprehensive income Total comprehensive income Statements of financial position as at 30 September: 500 2017 K000 K000 2016 K000 K000 Assets Non-current assets Property, plant and equipment 25,200 5,000 26,700 30,800 30.200 Current assets Trade receivables Bank 2,300 3,000 nil 5,300 3,100 3,400 300 6,800 Total assets 36,100 37,000 Equity and liabilities Equity Equity shares of K1 each Revaluation reserve Retained earnings 17,200 1,200 7.700 15,000 2,500 8,700 26.100 26,200 Non-current liabilities 12% loan notes Current liabilities 5,000 5,000 4,200 3,900 Trade payables Accrued finance costs Bank Current tax payable 50 500 5.000 1,850 5,800 36,100 37,000 Total equity and liabilities The following information is relevant On 1 July 2017, Kanyembo acquired a new investment property at a cost of K1.4 million. On this date, it also transferred one of its other investment properties to property, plant and equipment at its fair value of K1.6 million as it became owner- occupied on that date Kanyembo adopts the fair value model for its investment properties. Kanyembo also has a policy of revaluing its other properties (included as property, plant and equipment) to market value at the end of each year. Other comprehensive income and the revaluation reserve both relate to these properties epreciation of property, plant and equipment during the year was K1.5 million. An item September 2017 of plant with a carrying amount of K2.3 million was sold for K1.8 million during Required: Prepare the statement of cash flows for Kanyembo fo Septomber 2017 in accordance with IAS 7 Statement of Cash Flows using the indirect method. r the year ended 30 Total: 25 marks]