QUESTION THREE The summarised statement of profit or loss for the year to 30 April 2020 and the statement of financial position as at that date, with comparative figures for 2019, for Mafishi plc are shown below: Statement of profit or losss (summarised) for the year to 30 April: Gross profit less: Operating costs Profit before interest & taxation less: Interest payable Profit before taxation less: Taxation Profit for the year 2020 K'000 3,046 2,578 468 65 2019 K'000 2,364 2,044 320 54 266 62 204 403 97 306 Statements of financial position as at 30 April: 2020 K'000 2019 K'000 Non-current assets: Plant and equipment at cost less: depreciation to date 5,679 2,416 4,777 2,018 3,263 2,759 Current assets: Inventory Trade receivables Bank 387 754 321 607 53 1,194 928 4,457 3,687 Equity: Ordinary share capital (50n) Share premium account Retained earnings 750 1,250 702 650 1,050 441 2,702 2,141 Non-cuirent liabilities: 6% Debentures 1.200 1,000 Current liabilities: Trade payables Current tax payable Bank overdraft Accrued interest owing 438 102 387 66 84 9 15 555 546 4,457 3,687 The following information is also available: The following information is also available: 1. New shares were issued and fully paid in October 2019. 2. Equipment that had cost the company K240,000 was sold in February 2020 for a loss of K12, 000. The net book value of the equipment when sold was K96, 000. 3. A dividend of 3n per share was paid in April 2020. Required: Prepare a statement of cash flows for Mafishi Plc for the year to 30 April 2020 using the indirect method 25 marks