Royal (Pty) Ltd 31 May 2021 R 31 May 2020 R 300 000 240 000 Extract: Statement of financial position as at 31 May 2021 Property, plant and equipment: Land and buildings at cost.. Equipment at carrying amount.. Investment in shares..... Inventory...... 45 000 52 500 247 500 165 000 186 000 180 000 Trade debtors... 55 500 42 750 Prepaid expenses.. Nil 2 250 Ordinary share capital... 600 000 442 500 Retained earnings....... 82 500 7 500 12% Debentures...... 30 000 90 000 Trade creditors......... 37 500 63 750 Bank overdraft.. 31 500 37 500 7500 11 250 *** Income tax payable.. Dividends payable 45 000 30 000 Royal (Pty) Ltd Extract: Statement of profit or loss and other comprehensive income for the year ended 31 May 2021 31 May 2021 R 7 500 27 000 Depreciation equipment.... Dividends received. Interest expense.... Profit before tax.. 11 250 240 000 Income tax...... 75 000 Profit for the year. 165 000 Royal (Pty) Ltd Extract: Statement of changes in equity for the year ended 2021 31 May 2021 R Dividends declared : Ordinary 90 000 Required: Prepare the statement of cash flows for Royal (Pty) Ltd for the year ended 31 May 2021 in compliance with the International financial Reporting Standards in as much as possible for this business. Show all workings