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REQUIRED Use the information provided below to prepare the Cash Flow Statement of Nascar Limited for the year ended 31 December 2021. INFORMATION The
REQUIRED Use the information provided below to prepare the Cash Flow Statement of Nascar Limited for the year ended 31 December 2021. INFORMATION The following Information was extracted from the records of Nascar Limited for the past two years: STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER: Sales Cost of sales Gross profit Operating expenses (2 912 000) Depreciation 300 000 Other operating expenses 2 612 000 2021 (R) 18 560 000 (12 800 000) 5 760 000 12 000 000 (7 500 000) 4.500.000 (2 120 000) 260 000 1 860 000 2020 (R) Operating profit 2 848 000 2 380 000 Interest on mortgage loan (240 000) Profit before tax Company tax Profit after tax 2 608 000 (782 400) 1 825 600 (720 000) 1 660 000 (498 000) 1 162 000
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