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The financial statements for Waverley Ltd are provided below: Waverley Ltd Comparative Balance Sheet As at 30 June 2019 and 2020 2019 2020 Assets Cash

The financial statements for Waverley Ltd are provided below:

Waverley Ltd

Comparative Balance Sheet

As at 30 June 2019 and 2020

2019

2020

Assets

Cash At Bank

167,000

215,000

Accounts Receivable

213,000

158,000

Inventory

68,000

73,000

Prepaid Rent

4,000

5,000

Buildings

320,000

350,000

Accumulated Depreciation Buildings

(108,000)

(132,000)

Equipment

67,000

78,000

Accumulated Depreciation Equipment

(25,000)

(26,000)

706,000

721,000

Liabilities

Accounts Payable

236,000

228,000

Dividend Payable

12,000

13,000

Salary Payable

18,000

20,000

Tax Payable

16,000

17,000

Bank Loan

158,000

171,000

440,000

449,000

Equity

Capital

170,000

164,000

Retained Earnings

96,000

108,000

266,000

272,000

Waverley Ltd

Income Statement

For the Year Ended at 30 June 2020

Sales

1,000,000

COGS

(450,000)

Gross Profit

550,000

Profit on sale of Equipment

2,000

Rent

42,000

Salary

400,000

Interest

12,000

Depreciation Expense Buildings

13,000

Depreciation Expense Equipment

15,000

(482,000)

Net Profit before Tax

70,000

Less Taxation expense

(21,000)

Net Profit

49,000

Required:

Prepare an extract of the Cash Flow Statement for the year ended 30 June 2020 showing Cash Flows from Operating Activities AND Cash Flows from Financing Activities. Show all workings.

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