The following information is extracted from the financial statements of L Donnelly Ltd for the financial year ended 31st December 2017 Profit before Taxation (after interest cost) Depreciation included above Interest expense 1,442 534 At 1st January 2017: Inventories Trade Receivables (debtors) Trade Payables (creditors) At 31st December 2017 Inventories Trade Receivables (debtors) Trade Payables (creditors) 582 445 627 629 506 685 Payments made during the year included: Taxation paid Interest paid Dividends paid 158 93 Other financial information: Opening cash at 1st January 2017 Purchase of non-current assets Issue of Ordinary shares + Redemption of Preference shares Loan repaid- Interest Income received Sale of surplus assets (363) 93 37 70 40 18 40 Required (a) Prepare a cash flow statement for L Donnelly for the year ended 31st December 2017 in accordance with IAS 7 Statement of Cash flow. (Detailing the aspects that relate to operating, investing and financing activities in accordance with IAS 11.) (b) Set out the definition under IAS 7 of 1. Cash 2. Cash Equivalents (10marks) (10marks) The following information is extracted from the financial statements of L Donnelly Ltd for the financial year ended 31st December 2017 Profit before Taxation (after interest cost) Depreciation included above Interest expense 1,442 534 At 1st January 2017: Inventories Trade Receivables (debtors) Trade Payables (creditors) At 31st December 2017 Inventories Trade Receivables (debtors) Trade Payables (creditors) 582 445 627 629 506 685 Payments made during the year included: Taxation paid Interest paid Dividends paid 158 93 Other financial information: Opening cash at 1st January 2017 Purchase of non-current assets Issue of Ordinary shares + Redemption of Preference shares Loan repaid- Interest Income received Sale of surplus assets (363) 93 37 70 40 18 40 Required (a) Prepare a cash flow statement for L Donnelly for the year ended 31st December 2017 in accordance with IAS 7 Statement of Cash flow. (Detailing the aspects that relate to operating, investing and financing activities in accordance with IAS 11.) (b) Set out the definition under IAS 7 of 1. Cash 2. Cash Equivalents (10marks) (10marks)