shivhase CC is presented to you for the preparation of the statement of cash flows for the previous financial year ended 31 August 2021:

Extract from the statement of financial position as at 31 August 2021:

	2021	2020
	R	R
Members contributions	1 196 900	1 057 100
Retained earnings	216 800	78 000
Long-term loan	265 900	194 000
Distribution to members payable	73 400	106 500
Loans to members	92 100	33 400
Loans from members	111 400	-
Trade payables control	128 500	65 500
Current tax payable	58 200	39 200
Land and buildings (at cost)	752 500	499 500
Machinery (at cost)	411 800	387 900
Accumulated depreciation: Machinery	115 400	50 800
Investment (at fair value)	133 700	-
Inventory	38 800	22 700
Dividend receivable	14 300	68 900
Trade receivables control	71 600	69 500
Prepaid advertising expense	13 700	11 700
Accrued security expenses	5 200	2 400
Fixed deposit	17 500	12 600
Bank	130 500	188 600

Extract from the statement of profit or loss and other comprehensive income for the year ended 31 August 2021:

	R
Revenue	712,900
Cost of sales	333,500
Investment income: dividend income	12,300
Fair value gain on listed investments	17,300
Interest income on loans to members	11,800
Interest income on loans from members	12,700
Interest expense on long term loans	10,200
Income tax expense	96,100
Loss on sale of machinery	7,000
Office expenses	18,200
Repairs and maintenance	22,000
Telephone expenses	24,200
Water and electricity	41,000
Depreciation on machinery	72,300

Additional information:

1. Cash flows from operating activities are presented using the direct method

2. Profit distribution to members paid amounted to R29 000.

2. All inventories are purchased and sold on credit.

3. Interest on loans advanced to and received from members is capitalised. All loans to members are immediately callable whilst the total amount owing to members is payable on 31 August 2023.

4. Machinery with a cost price of R22 400 and accumulated depreciation of R8 900 was sold for cash. A replacement machinery was bought on 30 June 2021.

5. Improvements to land and buildings were carried out during the year.

6. Investments consist of the following:

- Ordinary shares in Mloto Limited

QUESTION 20

Which of the following alternatives represents the correct amount that must be disclosed as proceeds from long-term borrowings under cash flows from financing activities section in the statement of cash flows for Tshivhase CC for the year ended 31 August 2021?

a.74 000

b.71 900

c.139 800

d.(139 800)