The financial statements of Plate Limited for the financial year 1 are as follows: Statement of Financial Position at 31 December Year 1 Year 0 $m $m ASSETS Non-Current Assets Intangible assets 277 234 Tangible assets 1,023 600 Financial assets 220 200 1.520 1,034 Current Assets Inventories Trade Receivable Short-term investments Total current assets 128 335 246 509 50 805 30 493 Total assets 2.325 1.527 401 EQUITY AND LIABILITIES Ordinary shares capital Revaluation surplus Retained profits 476 251 116 843 ' 26 427 Non-current liabilities Long-term bank loans 759 557 Current liabilities Bank overdraft Trade payables Interest payables Tax payables Total current liabilities Total liabilities 388 244 49 42 723 1,482 185 311 22 25 543 1,100 Total equity and liabilities 2.325 1.527 The statement of profit or loss and other comprehensive income for the year ended 31 December Year 1 $m Revenue 1,162 Cost of goods sold (866) Gross profit 296 Distribution costs (47) Administrative expenses (110) Net profits before interest and tax 139 Interest Income 79 Finance cost Profit before tax 163 Taxation (24) Profit for the period 139 Retained profit as at 1 January Year 1 26 Dividend paid (49) Retained profit as at 31 December Year 1 (55) 116 Other supplemental information: 1. The operating profit is after charging depreciation on the non-current asset of $22 million and amortization on the intangible non-current assets of $7 million. 2. During the year ended 31 December Year 1, plant and machinery costing $1,464 million, net book value of $244 million, was sold for $250 million. 3. During the year, some financial assets were written down by $15m to reflect the permanent diminution in value. Additional financial assets were purchased on 31 December Year 1 for $40m. Other financial assets were disposed of for a value of $50m during year. 4. During the year ended 31 December Year 1,25 million shares were issued at $3.0. Required: (a) Prepare the statement of cash flows for Plate Limited for the year ended 31 December Year 1, using indirect method. (b) Explain the treatment of depreciation charge and of the dividends paid. (Work to the nearest million.)