Question2 Oliver is the manager of E. RIDING Ltd. He is currently preparing financial statements for the year ended 31 March 2016. The income statement and statement of financial position have been completed and are shown below E. RIDING LTD Statement of financial position as at 31 March 2015 2016 E. RIDING LTD Non-current asset ans 30,000 (3,000) 30,000 (4,200) Income Statement for the year ending 31 March 2016 Vans-Depreciation 27,000 25,800 Revenue Cost of sales Gross Profit 40,000 (10,000) 30,000 Current asset Inventory Account receivable less allowance Bank 15,000 25,000 5,000 27,000 33,500 6,000 45.000 72,000 66,500 92,300 Less Expenses Wages and salaries Depreciation: van Rental expenses Total Assets 3,800 1,200 1,500 Current liability Account payable 6,000 7,800 6,500 Non-current liability 20,000 15,000 Net profit 23,500 Total Liabilities 26,000 2,800 Net Asset 46,000 69,500 Capital Opening balance Add Net profit Total Capital 13,000 33,000 46,000 46,000 23,500 69,500 Required Prepare a statement of cash fow for E. RIDING Ltd using the IAS 7 layout for the year ended 31 March 2016