The following data relate to Emporium Ltd:

Emporium Ltd Income statement for year ended 30 June 2017
Income
Sales revenue				$1,210,000
Expenses
Cost of sales		$720,000
Depreciation machinery		35,000
Depreciation buildings		11,000
Other expenses		327,500		1,093,500
Profit				$116,500

End of Chapter Problem 18.6 The following data relate to Emporium Ltd: Emporium Ltd Income statement for year ended 30 June 2017 Income Sales revenue $1,210,000 Expenses Cost of sales $720,000 Depreciation - machinery 35,000 Depreciation - buildings 11,000 Other expenses 327,500 1,093,500 Profit $116,500 Emporium Ltd Comparative statements of financial position as at 30 June 2016 2017 Assets Cash at bank $56,000 $14,500 Accounts receivable 140,000 126,000 Inventory 118,000 163,000 Investments 18,000 22,000 Machinery (net) 200,000 275,000 Buildings (net) 130,000 229,000 Land 69,000 151,500 $731,000 $981,000 Liabilities and equity Accounts payable $50,500 $65,500 Expenses payable 6,500 4,000 Mortgage payable 131,000 216,000 Share capital 375,000 455,000 Retained earnings 168,000 240,500 $731,000 $981,000 Additional information a) Dividends were paid during the year. b) The increases in investments and machinery were from cash purchases. c) The increases in land and buildings were from purchases but were partly funded by an increase in the mortgage with the bank. d) Share capital was issued during the year for cash. Prepare the statement of cash flows for Emporium Ltd for the year ended 30 June 2017, using the direct method. (Show amounts that decrease cash flow using either a negative sign, e.g. -15, 000, or parentheses, e.g. (15,000).) Emporium Ltd Statement of cash flows for the year ended 30 June 2017