The following are key extracts from the financial statements of Burns Plc for

financial years ending $31$ st of December $2020$ and $2021$:

Required:

$($a$)$ Prepare a Statement of Cash Flows for Bums plc for the year ended $31$

December $2021$ in accordance with IAS $7$ 'Statement of Cash Flow'.

$($b$)$ Assume that Bums Plc is looking to expand the business and needs to raise

$200,000,000$ to do so$.$ State firstly whether you would recommend they raise

this capital by equity or by debt. Secondly, the rationale behind your

recommendation weighing up the advantages and disadvantages.