The following information was extracted from the financial records of Pink Ltd. Additional information: 1. Pink Ltd uses the direct method of reporting cash flows from operating activities. The reconciliation note, as per FRS44NZ, is required. 2. The entity classifies interest expense paid and dividends paid as cash flows from operating activities. 3. Long-term borrowings of $1200 were repaid during the year ended 31 March 2022. 4. Plant and equipment items were purchased during the year at a total cost of $7620. (i) Prepare the necessary journal entry to recognise the discount allowed expense. (ii) Reconstruct all the general ledger accounts provided in the answer booklet. (iii) Prepare a Statement of Cash Flows for Pink Ltd, in accordance with NZ IAS 7 Statement of Cash Flows, for the year ended 31 March 2022. (iv) Prepare a Statement of Cash Flows for Pink Ltd, in accordance with NZ IAS 7 Statement of Cash Flows, for the year ended 31 March 2022. Assume this time that Pink Ltd uses the indirect method to report cash flows from operating activities and the entity classifies dividends paid as a financing cash flow. (v) Explain why there is a difference in the dollar amount for Net cash flow (used in)/from operating activities in (iii) and (iv) above. Comment on the 'cash generated from operations' amount in your