The following are the balance sheets of Ulta Ltd for the years ending 31st Dec, 2013 and 31st Dec. 2014.

Ulta Ltd

Balance Sheet

For the year ending 31st Dec.

2013. 2014

Capital and Liabilities $000 . $000

Share capital 3, 000. 3, 500

General Reserve . 1, 000. 1, 250

Capital Reserve - 5, 000

P/L Account. 50, 000 . 100, 000

15% Debentures 150, 000 100, 000

Accrued Expenses 5, 000. 6, 000

Creditors 80, 000 . 125, 000

Provisions

Dividends . 15, 000. 17, 000

Taxation 35, 000 . 38, 000

TOTAL 735, 000. 866, 000

Assets

Fixed Assets 500, 000. 600, 000

Less: Depreciation 100, 000. 125, 000

Net Fixed Assets 400, 000. 475, 000

Long Term Investment 90, 000. 90, 000

Stock (at cost) 100, 000. 100, 000

Debtors (Net of provisions for

doubtful debts of BWP20,000

and BWP25,000 for

20X3 and 20X4 respect) 112, 500. 122, 500

Bills receivable 20, 000. 32, 500

Prepaid expenses 5, 000. 6, 000

Miscellaneous expenses . 7, 500. 5, 000

TOTAL 735, 000. 866, 000

Additional Information:

During the year 2014,

- Fixed assets with a NBV of $5, 000 (acc. Depreciation) was sold for $4, 000.

- Investments costing $40, 000 were sold

- Investments costing $40, 000 were purchased.

- Debentures were retired at a premium of 10%.

- Tax of $27, 500 was paid for 2013

- During 2014 bad debts of $7, 000 were written off.

- Proposed dividend for 2013 was paid in 2013.

Required:

Prepare a funds flow statement for the year ended 31st December 2014