QUESTION TWO $[25]$

Moon Ltd is a retailer specialising in pyjamas and other nightwear clothing. The following information was taken from the accounting records for the year ended $30$ September $2023.$

Moon Ltd

Statement of comprehensive income for the year ended $30$ September $2023$

R $.$

Sales

Cost of sales

$976000$

$(344000)$

Gross profit

$632000$

Other income

$79100$

Rental income

Commission income

Profit on disposal of equipment

$17600$

$37500$

$24000$

Distribution, administration and other expenses

$(431100)$

Depreciation

Electricity and water

$32000$

$47900$

Rent expense

Salaries and wages

Sundry expenses

$88300$

$192000$

$17900$

Finance cost

$(33600)$

Interest expense

$33600$

Profit before tax

$\_\_\_\_\_\_\_\_\_\_\_.$

$246400$

Income tax expense

$(98400)$

Profit for the year

$148000$

Moon Ltd

Statement of financial position as at $30$ September $2023($including comparative figures$)$:

ASSETS

Sept $2023$

R

Sept $2022$

R

Equipment at carrying amount

Inventory

Trade debtors

Bank

$424000$

$32000$

$15200$

$135200$

$216000$

$30400$

$18400$

$80000$

Total assets

$606400$

$344800$

EQUITY AND LIABILITIES

Equity

$424000$

$232000$

Ordinary share capital

Retained earnings

$264000$

$160000$

$200000$

$32000$

Liabilities

$182400$

$112800$

Long term borrowings

$124000$

$32000$

Trade payables

Income received in advance

SARS: Tax payable

$16800$

$17600$

$24000$

$51200$

$12800$

$16800$

Total equity and liabilities

$606400$

$344800$

Additional information:

$1.$

Moon Ltd issued $100000$ ordinary shares on $30$ June $2023.$

$2.$

Dividends of R$20000$ were declared and paid in full on $15$ August $2023.$

$3.$

During the year equipment with a carrying amount of R$160000$ was sold and new equipment was purchased.

$4.$

The company raised a long$-$term loan of R$112000$ during the year.

Required:

Prepare the statement of cash flows of Moon Ltd for the year ended $30$ September $2023$ in compliance with the requirements of the international financial reporting standards in as much as the given information allows. Use the indirect method.