The following are the financial statement Kin Ltd. for the year ended 31 March 2020: 

Kin Ltd. 

Income statement 

For the year ended 31 March 2020 $”M” 

Revenue1,276,000.50 

Cost of sales-907,000,000 369,000,000.50 

Distribution costs-62,000,000.50 

Administrative expenses-132,000,000 175,000,000 

Interest received  12,000,000.50 

Interest paid -37,000,000.50 150,000,000 

Tax-70,000,000 

Profit after tax80,000,000 

Kin Ltd. 

Statement of financial position as at 31 March 20202019 $”M”$”M” 

ASSETS: Non- current assets: 

Property, plant and equipment190,000,000152,500,000

 Intangible assets125,000,000100,000,000 

Investments12,500,000 Current assets: 

Inventories75,000,00051,000,000 

Receivables195,000,000157,500,000 

Short-term investment25,000,000 

Cash in hand1,000,000500,000 

Total assets611,000,000474,000,000 

Equity and liabilities: 

Equity: Share capital  (10 million ordinary shares of $ 10 per value) 100,000,00075,000,000 

Share premium 80,000,00075,000,000 

Revolution reserve50,000,00045,500,000 

Retained earnings130,000,00090,000,000 

Non-current liabilities: Loan85,000,00025,000,000 

Current liabilities: 

Trade payables63,500,00059,500,000 

Bank overdraft42,500,00049,000,000 

Tax Total equity and liabilities611,000,000474,000,000 

Additional information: 

1. During the year, the investments classified as non- current assets were sold. The proceeds of the sale of these investments amounted to $ 15 million. 

2. Fixtures and settings, with an original cost of $ 42.5 million and a carrying amount of $ 22.5 million were sold for $ 16 million during the year. 

3. The following information relates to property, plant and equipment:                                                            

31 March 2020      31 March 2019                                                                    $”Million”        $”Million”          Cost                                               360,000,000        297,500,000          Accumulated depreciation.    (170,000,000)         (145,000,000)          Carrying amount                       190,000,000            152,500,000 

4. 2.5 million ordinary shares of $. 10 par value were issued during the year at a premium of $. 2.0 per ordinary shares. 

5. Dividends totaling $ 40 million were paid during the year. 

Required: Statement of cash flows for the year ended 31 March 2020.