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

17.8 Cash receipts from customers and cash paid to suppliers and employees ?05 The accounting records of Indigo Ltd recorded the following information 30 June 2018 30 June 2019 40 000 32 000 1 000 15 000 5 000 $50 000 34 000 3 000 16 000 5 500 Accounts receivable Inventories Prepaid expenses Accounts payable for inventories purchased Employee liabilities Other accruals (including accrued interest: 2018 - $700; 2019- $850) Sales revenue Cost of sales Expenses (including $5000 depreciation and $2000 interest) 4 000 3 800 600 000 480 000 75 000 Required 1. Calculate the amount of cash received from customers during the year ended 30 June 2019 2. Calculate the amount of cash paid to suppliers and employees during the year ended 30 June 2019