Set out below are the financial statements of Emma, a limited liability company. You have been asked to prepare the company's statement of cash flows, implementing IAS 7 Statement of cash flows. EMMA STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 31 DECEMBER 2020 GHc'000 Sales revenue 2,553 Cost of sales 1,814 Gross profit 739 Distribution costs (125) Administrative expenses ( 264) Operating profit 350 Interest received 25 Interest paid ( 75) Profit before tax 300 Income tax expense (240) Profit for the year 60 EMMA STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2019 2020 GHc'000 GHc'000 Non-current assets Tangible assets 380 305 Intangible assets 250 200 Investments 25 630 530 Current assets Inventories 150 102 Receivables 390 315 Short-term investments 50 Cash in hand 2 1 592 418 1,222 948 Equity and liabilities Share capital (GHc1 ordinary shares) 200 150 Share premium account 160 150 Revaluation surplus 100 91 Retained earnings 160 100 620 491 Non-current liabilities Long-term loan 100 Current liabilities Trade payables 127 119 Bank overdraft 85 98 Taxation 290 240 502 457 1,222 948 The following information is available. a) The proceeds of the sale of non-current asset investments amounted to GHc30,000. b) Fixtures and fittings, with an original cost of GHc85,000 and a carrying value of GHc45,000, were sold for GHc32,000 during the year. c) The current asset investments fall within the definition of cash equivalents under IAS 7. d) The following information relates to property, plant and equipment. 31.12.2019 31.12.2020 GHc'000 GHc'000 Cost 720 595 Accumulated depreciation 340 290 Carrying value 380 305 e) 50,000 GHc1 ordinary shares were issued during the year at no par value. Required Prepare a Statement of Cash Flows for the year to 31 December 20X2 using the format laid out in IAS 7, together with the relevant notes to the statement.