QUESTION THREE [20] Motivated is a retailer selling inspirational books. The following information was provided by the bookkeeper for the year ended 28 February 2022: Statement of financial position of Motivated as at 28 February 2022 2022 2021 Non-current assets: Equipment R 53 000 R 27 000 Current assets: Inventory R 4 000 R 3 800 Bank R 21 300 R 12 300 R 25 300 R 16 100 Total assets R 78 300 R 43 100 Equity: Share capital: class A R 33 000 R 25 000 Retained earnings R 22 500 R 4 000 R 55 500 R 29 000 Non-current liabilities: Long-term loans R 15 500 R 4 000 Current liabilities: SARS (income tax) R 3 000 R 2 100 Income received in advance R 2 200 R 1 600 Trade payables R 2 100 R 6 400 R 7 300 R 10 100 Total equity and liabilities R 78 300 R 43 100 Statement of comprehensive income of Motivated for the year ended 28 February 2022 R Sales income 122 000 Cost of sales expense - 43 000 Gross profit 79 000 Net operating costs - 44 000 Operating profit 35 000 Interest expense - 4 200 Profit before tax 30 800 Taxation expense - 12 300 Net profit for year 18 500 Additional information 1. Dividends were not declared during the year ended 28 February 2022. 2. Equipment with a book value of R20 000 was sold during the year. 3. The company raised loans of R14 000 during the year ended 28 February 2022. 4. The operating costs included in the statement of comprehensive income for the year ended 28 February 2022 included the following items: Bad debts expense 2 000 Wages expense 24 000 Rent expense 10 000 Depreciation expense 4 000 Profit on disposal of equipment 3 000 5. 20 000 Class A shares were issued for 50c each during the year and share issue costs of R2 000 were paid in this transaction. Required: Prepare the cash flow statement of Motivated for the year ended 28 February 2022, using the indirect method.