The following information have been extracted from the financial statements of GOLD plc. Statement of financial position

	2021	2020
	m	m
Non-current assets:
Property, plant and equipment	4,126	2,940
Accumulated depreciation	-1,106	-728
	3,020	2,212
Current assets:
Inventory	368	280
Trade receivables	864	294
Cash and cash equivalents	60	84
	1,292	658
Total assets	4,312	2,870
Current liabilities:
Trade payables	252	182
Interest payable	112	98
Taxes payable	140	98
	504	378
Non-current liabilities:
Long-term loans	364	252
Shareholders equity:
Ordinary share capital at 1 each	2,128	1,680
Share premium	364	322
Retained earnings	952	238
Total liabilities and shareholders equity	4,312	2,870

Further information

1. During 2021, the company sold equipment, which were
   • riginally bought at a cost of 352m and had accumulated depreciation of 176m. The gains on disposal were 40m.
2. The company acquired for cash new Property, plant and equipment during 2021 and there were no other movements in the Property, plant and equipment during 2021.
3. During 2021, the company paid
   1. Interest of 266m
   2. Dividend of 434m
   3. Tax of 448m

Required:

A) Prepare the statement of cash flows. (Show all calculations)

[10 marks]

B) Discuss why some users did not welcome the Internationa Accounting Standard IAS 7 statement of cash flows"