The following information was obtained from the accounting records of First Ltd: Summarised financial position for year ended 31 December.

ASSETS 2019 2018

Land and Building R104 865 R95 470

Investments Nil R1 100

Machinery at carrying amount R6 500 R1 600

Cost R8 700 R5 400

Accumulated depreciation (2 200) (3 800)

Inventories R12 000 R9 000

Trade debtors R 10 205 R 30 700

cash at bank R13 500 Nil

TOTAL ASSETS R 147 070 R 137 870

Equity & Liabilities

Equity R 100 070 R 78 470

Ordinary share capital R 85 000 R 68 000

Retained earnings R 15 070 R 10 470

Liabilities R 47 000 R 59 400

Long term loan R 20 000 R 30 000

Bank overdraft Nil R 700

Trade creditors R 6 600 R 9 200

Income tax payable R 2000 R 4 100

Dividends payable R 18 400 R 15 400

TOTAL EQUITY AND LIABILITIES R 147 070 R 147 870

Additional information:

the following was extracted from the statement of comprehensive income and statement of changes in equity for financial year ended 31 December 2019.

Income : R

Profit on sale of land and buildings R 7000

Profit on sale of machinery R 300

Expenses

Depreciation R 1 000

Administration expenses R 29 730

Selling expenses R 12 005

Loss on sale o investment R 500

Taxation expense R 18 000

Profit for the year R 23 000

Appropriation

Dividends declared R 18 400

1. The investments of the company were sold for R600 cash
2. A portion of the land and buildings with a cost price of R 11 000 was sold during the year for R 18 000 cash. Additional land was purchased for R20 395 cash.
3. Machinery to the value of R 6 400 was purchased for cash. Machinery with a carrying amount of R 500 was sold at a profit of R 300
4. The company paid issued new ordinary shares during the year.

Required:

Draft the statement of cash flows for the year ended 31 December 2019 method in compliance with international financial reporting standards in as much as the given information.The indirect method is in use.Show all workings