Shatin Limited is a company incorporated in Hong Kong. It principally engages in the manufacture and sales of audio-video products. In addition to sales through wholesalers, Shatin Limited also operates directly in the retail market through dedicated showrooms.

The draft financial information for the year ended 31 December 2020 was shown as follows:

Shatin Limited Statement of financial position As at 31 December 2020 2020 $'000 2019 $'000 Non-current assets Intangible assets (net) Property, plant and equipment (net) Investments at cost 4,320 4,860 6,270 4,710 1.800 1.560 12,390 11,130 Current assets Inventory Trade receivable Bank 5,760 5,820 2,190 13,770 26.160 5,160 4,500 150 9,810 20.940 Total assets Equity and liabilities Equity Ordinary share capital Revaluation surplus Retained profit 11,280 9,240 1,440 360 7.920 6,480 20,640 16,080 Non-current liabilities 10% loan notes Deferred tax liability 870 900 1,770 600 630 1,230 Current liabilities Trade payable Interest payable Tax payable 2,460 630 660 3.750 26.160 2,100 570 960 3.630 20.940 Total equity and liabilities Shatin Limited Statement of profit or loss and other comprehensive income For the year ended 31 December 2020 Revenue Cost of goods sold Gross profit Gain on disposal of plant Selling and distribution expenses Administrative expenses Profit before interest and tax Interest expense Profit before tax Tax expense Profit for the year Gain on revaluation of property $'000 20,700 (13,500) 7,200 30 (1,680) (750) 4,800 (150) 4,650 (1.260) 3,390 1,080 Other information (1) There were no additions and disposals of intangible assets during the year. The decrease of intangible assets was entirely due to the amortisation of the company's intangible assets. (ii) Plant with a cost of $660,000 and accumulated depreciation of $249,000 was sold during the year at a profit of $30,000. The depreciation expense for property, plant and equipment for the year of $294,000 was charged to the statement of profit or loss. The increase in revaluation surplus was attributable to a revaluation of the company's property during the year. (1) The increase of investments was entirely due to the purchases of new investments. (iv) The increase in ordinary shares was due to an issue for cash on 30 October 2020. Required: Prepare the statement of cash flows for Shatin Limited for the year ended on 31 December 2020 using the indirect method in accordance with HKAS 7 Statement of Cash Flows. Show your workings. (100 marks)