The Greene Corp. produced the following data accompanying its financial data for $2022$;

a$.$ Equipment costing $10,000$ with a book value of $8,000$ was sold for $15,000$

b$.$ Motor vehicle costing $40,000$ with depreciation of $16,000$ was sold at a loss of $5,500$

c$.$ The building was revalued during the year.

d$.$ No dividend was paid during the year.

BALANCE SHEET AS AT DECEMBER $31,$

$2021$

$2022$

$

$

$

$

$

$

Non$-$Current Assest

COST

DEPN

NBV

COST

DEPN

NBV

Goodwill

$70,000$

$35,000$

Building

$300,000$

$300,000$

$375,000$

$375,000$

Equipment

$250,000$

$25,000$

$225,000$

$310,000$

$38,500$

$271,500$

Motor Vehicle

$150,000$

$15,000$

$135,000$

$180,000$

$27,000$

$153,000$

$700,000$

$40,000$

$730,000$

$865,000$

$65,500$

$834,500$

Current Liabilities

Stock

$22,000$

$35,000$

Short Term Investment

$40,000$

$25,000$

Debtors

$8,000$

$15,000$

Bank

$0$

$22,500$

Cash

$12,000$

$82,000$

$6,000$

$103,500$

$812,000$

$938,000$

EQUITY & LIABILITIES

Capital & Reserves

Share Capital $($ $$1$ Ord Shares$)$

$275,000$

$275,000$

Share Premium

$22,500$

$22,500$

Reval Reserve

$0$

$50,000$

General Reserves

$25,500$

$25,500$

Retained Earnings

$140,500$

$463,500$

$80,750$

$453,750$

Non$-$Current Liabilities

$10\%$ Debenture

$297,500$

$410,750$

Current Liabilities

Creditors

$17,000$

$22,000$

Interest

$10,000$

$26,500$

Tax Payable

$14,000$

$0$

Accounts Payable

$10,000$

$51,000$

$25,000$

$73,500$

$812,000$

$938,000$

Required: $($a$)$ Prepare the cash flow statement for the year ended $2022.(20$ marks$)$

$($b$)$ Comment on the performance and financial position of the company, using

relevant items in the cash flow statement. $(5$ marks$)$