Task 2

The summarised Statements of Financial Position of Al Haq for the year ended 31^stDecember 2018 and 2019 and the comprehensive income statement for the year ended 31^stDecember2019 are given below:

Statement of Financial Position as at 31^stDecember

		2019 OMR	2018 OMR
Assets
Non- current Assets net depreciation:	of
Premises		90,000	90,000
Fixtures		75,000	54,000
Vehicles		144,000	90,000
Current Assets
Inventory		72,000	60,000
Trade debtors		51,000	48,000
Government securities		72,000	30,000
Cash and bank balances		24,000	36,000
		528,000	408,000
Capital and Liabilities
Share Capital		300,000	240,000
Profit and loss account		75,000	60,000
Current liabilities
Trade creditors		72,000	54,000
Provision for taxation		45,000	30,000
Dividend Payable		36,000	24,000
Total of capital and liabilities		528,000	408,000

Comprehensive Income Statement for the year ended December 31st, 2019

	OMR	OMR
Profit before adjustments		180,000
Depreciation:
Fixtures	12,000
Vehicles	18,000	(30,000)
Foreign currency loss		(36,000)
Loss on sale of vehicles		(18,000)
Profit before taxation		96,000
Provision for taxation		(45,000)
Profit after taxation		51,000

Additional information: During the year vehicles of book values OMR 60,000 have been sold for OMR 42,000

Required:-

1. Prepare the Cash Flow Statement for the year ended 31st December 2019, in compliance with

IAS 7.