The following are the comparative Balance Sheets of Kepitaland Ltd as at 31 December 2008 and 2009. Non-current assets 2008 2009 $ $ 220,000 $ 275,000 Land Property, plant & equipment (NBV) Investments 250,000 320,000 250,000 357,000 790,000 882,000 Current assets Prepaid expenses Dividend receivable Inventories Trade debtors Cash at bank Fixed deposits 12,000 4,000 29,000 212,500 10,000 2,000 35,000 192,500 272,300 101,700 359,200 1,149,200 511,800 1,393,800 Shareholders' equity Issued capital Accumulated profits 350,000 450,000 502,000 456,000 800,000 958,000 Non-current liabilities Debentures 131,700 214.300 Current liabilities Bank overdraft Interest payable Dividends payable Tax payable Trade creditors Accrued expenses 12,000 50,000 15,000 20,000 73,000 47,500 34,600 29,000 15,000 62,900 80,000 217,500 1,149,200 221,500 1,393,800 The Income Statement of Kepitaland Ltd for the year ended 31 December 2009 is shown below: 2009 Revenue COGS Gross profit Dividend income Operating expenses Profit from operations Finance costs Profit before tax Income tax expense Net Profit for the year $ 2,150,200 (1,760,800) 389,400 23,500 (278,000) 134,900 (23,000) 111,900 (32.000) 79,900 Additional Information: (1) The following items charged to the Income Statement were included in operating expenses before deriving the net profit for the year ended 31 December 2009:- S Loss on sale of equipment 32.000 Depreciation of property, plant & equipment 75,000 (2) Equipment with a net book value of $50,500 was sold during the year. (3) All purchases and sales were made on credit. Required: Prepare a Statement of Cash Flows for the year ended 31 December 2009 using the Direct Method. Show all workings