The following information is available from Gum Ltd's statement of financial position as at 30 June 2022: 2022 2021 Cash Bank Bills 24,000 28,000 20,000 20,000 Accounts Receivable 76,000 54,000 Allowance for doubtful debts (6,000) (4,000) Inventory 140,400 157,200 Prepayments 38,000 26,000 Equipment 420,000 200,000 Accumulated depreciation - equipment (82,000) (40,000) Vehicles 220,000 170,000 Accumulated depreciation - vehicles (67,000) (68,000) Land 380,000 380,000 Deferred tax asset 28,000 25,600 Total Assets $1,191,400 $948,800 Accounts payable 96,000 88,000 Provision for employee benefits 42,000 30,000 Other payables 43,000 46,000 Interest payable 40,000 44,000 Dividend payable 24,000 30,000 Current tax liability 42,000 48,400 Deferred tax liability 32,000 36,400 Borrowings 300,000 160,000 Total Liabilities $619,000 $482,800 Share Capital 480,000 92,400 400,000 66,000 $572,400 $466,000 Retained earnings Total Equity Additional information: The Statement of Profit or Loss disclosed the following: Sales $900,000; Gain on sale of vehicle $8,000; Cost of sales $520,000; Distribution costs $102,000; Administration costs $120,000; Interest expense $30,000; Income tax expense $50,000; and, Profit after tax of $86,000. Included in the total for distribution costs was bad debts expense $12,000 and a discount allowed $16,000. Included in the total for administration costs were depreciation expense on equipment and depreciation expense on vehicles. A vehicle with a carrying amount of $70,000 and an accumulated depreciation of $30,000 was sold for cash during the year. Vehicles were also purchased during the year. New equipment was purchased: $140,000 was paid for by borrowing arrangements with the bank and the balance was paid in cash. No equipment was sold. An interim dividend was paid during the year: $10,000 was paid by way of a bonus share issue, the remainder of the interim dividend was paid in cash. Repayments on borrowings for the year amounted to $40,000. Gum Ltd uses the direct method for presenting cash flows from operating activities. Required: a) Using formulas or T-accounts, show calculations for all cash inflows and outflows that you will need to disclose in the Statement of Cash Flows for Gum Ltd for the year ended 30 June 2022. (30 marks) b) Prepare a Statement of Cash Flows for the year ended 30 June 2022 for Gum Ltd in accordance with AASB 112 (direct method of presentation for operating activities), including a note to show the composition of Cash and Cash Equivalents. (10 marks)