The following financial statements were obtained from the books of Theodore for the year ending December 31, 2015: Statements of financial position as at: Non-Current Assets Cost 2014 Depn 2015 NBV Cost Depn NBV Goodwill 200,000 120,000 Building 440,000 120,000 320,000 670,000 145,000 525,000 Equipment 400,000 50,000 350,000 450,000 65,000 385,000 Motor Vehicle 320,000 80,000 240,000 410,000 95.000 315.000 Long Term Investment 65,000 165.000 1.175,000 1.510,000 Current Assets Closing Stock 40,000 74,500 Debtors 60.500 55.000 Short Term Investment 20,000 35,000 Bank 0 77.500 Cash 18.500 139,000 24,000 266,000 Total Assets 1,314,000 1,776,000 Capital & Reserves Share Capital 210,000 335.000 General Reserves 75,000 195.000 Revaluation Reserves 40,000 140,000 Retained Profit 300.000 625,000 556,000 1.226.000 Non-Current Liability 10% Debenture 550,000 400.000 Current Liabilities Creditors 40.000 65.000 Tax Payable 30.000 35.000 Interest Owing 15.000 20.000 Dindends 19.000 30.000 Bank Overdraft 35.000 130.000 0 150.000 Total Equity & Liabilities 1.314,000 1,776,000 Condensed statement of profit or loss for 2015 Net Sales Cost of Goods Sold Opening Stock add Net Purchases less Closing Stock Gross Profit Net Operating Expenses PBIT less Interest Profit before Tax less Tax PAT Add Retained Eaming b/d Total Profit for the Year 1,600,500 40,000 410,000 (74.500) (375,500) 1,225,000 (515.500) 709.500 (40,000) 669,500 (213,000) 456,500 300,000 756,500 (120,000) (80.500) (200.500) 556,000 less Transfer to Reserves less Dividends Retained Earnings c/d Additional notes: 1. During the year equipment costing $80,000 with a book value of $45,000 was sold for $60,000 2. The building was revalued during the year Required: Prepare the cash flow statement for the year 2015