REQUIRED Prepare the Cash Flow Statement of Cosby Limited for the year ended 31 December 2022. Sales Cost of sales UNIT INFORMATION COSBY LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2022 R 1 100 000 (650 000) 450 000 (210 000) (75 000) 165 000 Gross profit Selling and administrative expenses Depreciation Operating profit Interest expense Profit before tax Company tax Profit after tax ACC&FINMAN01/12 Balance on 01 January 2022 Profit after tax Dividends paid and recommended in 2022 Balance on 31 December 2022 (45 000) 120 000 (40 000) 80 000 EXTRACT OF STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2022 R 250 000 80 000 (30 000) 300 000 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: ASSETS Non-current assets Plant and equipment Accumulated depreciation Investments Current assets Inventories Accounts receivable Cash and cash equivalents Total assets EQUITY AND LIABILITIES Equity Ordinary share capital Retained earnings Non-current liabilities Loan: GH Bank Current liabilities Accounts payable Dividends payable/Shareholders for dividends Company tax payable/SARS: Company tax Total equity and liabilities 2022 (R) 660 000 1 200 000 (575 000) 35 000 455 000 215 000 190 000 50 000 1 115 000 610 000 310 000 300 000 60 000 60 000 445 000 420 000 20 000 5 000 1 115 000 2021 (R) 540 000 1 000 000 (500 000) 40 000 415 000 205 000 175 000 35 000 955 000 560 000 310 000 250 000 35 000 35 000 360 000 327 000 25 000 8 000 955 000 FINANCIAL REPORTING AND ANALYSIS UNIT 4 ANSWER BOOK: CASH FLOW STATEMENT COSBY LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022 Workings (if any) Cash flows from operating activities Profit before interest and tax/Operating profit Adjustments to convert to cash from operations Add: Depreciation Profit before working capital changes Working capital changes Increase/Decrease in inventory Increase/Decrease in receivables Increase/Decrease in payables Cash generated from operations Interest paid Dividends paid Company tax paid Cash flows from investing activities Non-current assets purchased Increase/decrease in long-term investments Cash flows from financing activities Increase/Decrease in loan. Net increase/decrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year R