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The following information relates to Mlungisi Pty Ltd. INFORMATION 2022 2021 Fixed Assets (Carrying Value) 4,137,700 2,598,300 Financial Assets (Fixed Deposit) 350,000 600,000 Current Assets
The following information relates to Mlungisi Pty Ltd. INFORMATION 2022 2021 Fixed Assets (Carrying Value) 4,137,700 2,598,300 Financial Assets (Fixed Deposit) 350,000 600,000 Current Assets 662,300 575,500 Inventory 322,000 345,000 Trade and other receivables 245,000 228,000 SARS: Income tax 6,400 - Cash and cash equivalents 88,900 2,500 Shareholder's Equity 3,439,500 2,718,000 Ordinary share capital 2,967,000 2,520,000 Retained Earnings 472,500 198,000 Non-current liabilities 1,200,000 500,000 Current liabilities 510,500 555,800 Trade and other payables 323,000 285,000 shareholders for dividend 187,500 108,000 SARS: Income tax - 9,800 Bank overdraft - 153,000 2022 Gross profit 2,040,000 Depreciation 215,100 Operating Profit 1,300,000 Interest Expense 132,000 Net profit before tax 1,175,000 Net profit after tax 846,000 Share Capital: Authorized share capital consists of 800 000 ordinary shares. 150 000 new ordinary shares were issued on 1 October 2021. 60 000 ordinary shares were repurchased on 1 January 2021 at 90 cents above the average issue price of R4, 30. On 28 February 2022 the share register reflected that a total of 690 000 shares had been issued to date. Fixed assets: Additional property was purchased for R2 100 000. No other fixed assets were purchased. Equipment was sold at carrying value. REQUIRED: Calculate the following figures that will appear on the Cash Flow Statement: 1.1 Income tax paid. (5 Marks) 1.2 Proceeds from disposal of fixed assets (carrying value). (5 Marks) 1.3 Net change in cash and cash equivalents. Indicate whether this is a net inflow or net outflow of cash. (5 Marks) 1.4 Complete the section of the Cash Flow Statement for cash effects of financing activities. (12 Marks)
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