Question
The income statement and the opening and closing balance sheets for Geld for the year ending 31 December 20X5 are noted below along with some
The income statement and the opening and closing balance sheets for Geld for the year ending 31 December 20X5 are noted below along with some other relevant information.
Geld Income statement for the year ended 31 December 20X5
$m Profit from operations
. 374 Interest payable
(24) Net profit before tax
350 Taxation
(88) Profit for the year
262 Statement of changes in equity Opening retained earnings
450 Profit for the year
262 Dividends paid
(212) Closing retained earnings
500 Balance sheets as at 31 December ...
20X5
20X4 Assets
$ m m
$m . $m Non-current assets. at NBV Note 1
1,420
1,523 Current assets Inventory
295
383 Trade receivables etc.
310
185 -Cash
74 - Cash equivalents
729
743 2.152
2.266 Equity and liabilities Ordinary shares
818
775 Share-premium account
33 Retained earnings
500 1,561
1,258 Non-current liabilities: Loans
164 Current liabllitles
- Bank overdraft
Trade payables Interest payable
225 Income Tax
427
678 2.152
2.266
25
101
243
450
330
1)
$m
$m
1,895
354
Noted below is a summary property, plant and equipment schedule for 20X5:
Cost Dep'n NBV
$m Opening
372 1,523) Additions
...1_354... Disposals
(286) (153) i (133) 1 Depreciation charge it to a - .!
321 (321) Closing
- 1,963
1,423 to The assets sold during the year yielded proceeds of $68m. A loss of $65m was made on the disposals. This loss is included within profit before tax.
The interest charge is accounted for on an accruals basis. The balance sheets show the opening and closing Interest accruals.'
Required:
Prepare the cash flow statement for the year ended 31 December 20X5.
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