Questions 5

QUESTION FIVE [2D] The following information was extracted from the Financial Statements of FIR Trading. Extracts tram the Statement of Financial Position as at 28 February 201 B R R Inventory 300 000 340 000 Trade and other receivables 113 500 95 000 Trade and other payables 159 000 102 000 SARS Income tax 18 000 (DR) 50 000 {CR} REGENT BUSINESS SCHOOL [RES] ACADEMIC AND ASSESSMENT CALENDAR - January 2019 24 BACHELOR OF COMMERCE IN HUMAN RESOURCE MANAGEMENT YEAR 1 - DISTANCE Extracts from the Statement of Financial Performance for the year 28 February 2018 Net profit before tax 1 050 500 1 350 000 Dividend Paid 330 000 Depreciation m 45 000 Required: 5.1 Prepare the Reconciliation between Protit before Taxation and Cash Generated from Income Tax 440 000 520 000 Interest on loans 53 000 44 000 Operations Note. (10) 5.2 Prepare an extract of the Cash Flow Statement showing Cash Flows from Operating Activities. (10) NB: All workings must be shown for all questions