Required: Prepare cash flows from operating activities section ONLY of a cash flow statement. Use the direct method.

17.13 Preparation of a statement of cash flows LO3, 4, !5 A summarised comparative statement of financial position of Bronze Ltd is presented below, together with a statement of profit or loss and other comprehensive income for the year ended 30 June 2019 30 June 2018 $45 000 69 000 30 June 2019 $35 000 105 000 (6 000) 67 000 60 000 225 000 (53 000) S 433 000 $ 75 000 7 000 18 000 37 000 100 000 100 000 7 000 89 000 433 000 Cash Trade receivables Allowance for doubtful debts Inventories Equity investments Plant Accumulated depreciation Accounts payable Accrued interest Current tax payable Deferred tax Borrowings Share capital Investment revaluation reserve Retained earnings 45 000 53 000 187 000 (35 000) 361 000 65 000 5000 15 000 30 000 80 000 100 000 2 000 64000 S 361000 17.13 2.png Search BRONZE LTD Statement of profit or loss and other comprehensive income for the year ended 30 June 2019 $1 035 CO0 (774 000) 261 COD 76 aon) 96 000) Sales Cost of sales Gross profit Distribution costs Administration casts Interest expense Profit before tax Income tax Profit for the year Othe Gain on revaluation of investments(net of tax Total comprehensive income 82 000 expense 58 COO r comprehensive income 5 C00 $ G3000 Aooltional Moramation The movement in the allowance for doubtful debts for the year comprises the following. Balance at 30 June 2018 Charge for year Bad debts written off Balance at 30 June 2019 $3 000 5 000 2 000) $6000 Equity investments are shares in other companies that are measured at fair value, with increasesfdecreases being recognised in other comprehensive income, and accumulated in the investment revaluation reserve until investments are sold. There were no disposals of plant during the year Adividend of $33 000 was paid during the year. There were no acquisitions or disposals of investments during the year. Required 1. Using the direct mthod of presenting cash fiows from operating activities, prepare a statement of cash flows in accordance 2. Prepare the operating activities section of the statement of cash flows using the indirect method of presentation. with AASB 10T/IAS 7 for the year ended 30 June 2019