Temasek Limited Income Statement for the year ended 31st December 2008 $'000 $'000 Sales Cost of Sales 220,000 (98,000) 122,000 Gross Profit Wages and Salaries Other expenses (including depreciation of $2,000) Gain on sale of plant and machinery Operating profit Interest Expense Income from investments 25,000 17,000 (2,000) (40,000) 82,000 (6,000) 1,000 2,000 Gain on sale of investment Profit before tax Tax expense for the year Profit after tax Dividends 79,000 (22,000) 57,000 Interim 2,000 Final declared 15,000 Retained profit brought forward (17,000) 40,000 50,000 90,000 ============ Temasek Limited Statement of Financial Position as at 31st December 2008 2008 2007 $'000 $'000 Land and building 200,000 140,000 Plant and machinery 30,000 40,000 Accumulated depreciation (5,000) 25,000 (6,000) 34,000 Motor vehicles 20,000 20,000 Accumulated Depreciation (3,000) 17,000 (2,000) 18,000 Long term investments 30,000 40,000 Inventory 7,000 5,000 Trade Receivables 20,000 17,000 Cash at bank 21,000 6,000 320,000 320,000 ========= ===== 100,000 Ordinary shares of $1 each Retained profits 140,000 90,000 50,000 10,000 10% convertible debentures 500 Bank loan-long term Accrued wages and salaries Trade payables Tax Payable Dividends payable 50,000 60,000 20,000 1,000 15,000 1,000 13,000 12,500 2,000 15,000 320,000 ========= 320,000 ========= Additional Information 1. $10,000 of the convertible debentures were converted into 10,000 ordinary shares on 1st January 2008 2. The increase in the issued share capital is due to the issue of shares at par for cash and conversion of debentures into shares. 3. Sale of plant and machinery was for cash. There were no purchases of plant machinery during the year. 4. Land and buildings were purchased for cash. 5. Depreciation charge of $2,000 in the income statement comprises depreciation $1,000 each for plant and machinery and motor vehicles. Required: Prepare the Cash Flow Statement for the year ended 31st December 2008 for Temasek Limited