The statement of financial position and statement of profit or loss for DVDs and More Limited is presented as follows.

Prepare a statement of cash flows using the direct method.

The statement of financial position and statement of profit or loss for DVDs and More Limited is presented as follows. DVDS AND MORE LIMITED Statement of financial position as at 30 June 2019 2019 $'000 2012 5'000 ASSETS Current assets Cash 165 20 190 210 Accounts receivable Allowance for doubtful debts (20) (12) Inventory 200 170 Prepaid rent 20 60 Total current assets 555 508 Non-current assets Land 420 360 510 470 (230) (210) 250 280 (110) (90) Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Patents Total non-current assets Total assets LIABILITIES AND EQUITY 30 40 270 850 1 385 1 318 Current liabilities 170 190 80 75 92 45 Accounts payable Accrued expenses Income tax payable Final dividend payable Total current liabilities Non-current liabilities 50 40 392 350 Borrowings 310 410 Total liabilities 702 760 Equity 400 350 102 48 45 35 Share capital Revaluation surplus General reserve Retained earnings Total equity Total liabilities and equity 130 125 683 552 1 385 1 318 DVDS AND MORE LIMITED Statement of profit or loss for the year ended 30 June 2019 $'000 $'000 Sales revenue 620 Profit on sale of land 20 640 Less: Expenses Cost of sales 240 Rent expense 40 12 90 Bad debts expense Depreciation and amortisation Other expenses Loss on sale of office equipment Profit before income tax 28 20 430 210 Income tax expense Current year 92 18 110 Under provision from previous year Profit for the period 100 Additional information (dollar amounts expressed in full units): 1. Equipment with an original cost of $90 000 and accumulated depreciation of $40 000 was sold. 2. Land with a cost of $80 000 was sold for $100 000. The remaining land was revalued upwards by $60 000. 3. Equipment to the value of $20 000 and buildings to the value of $40 000 were acquired with the issue of a long-term note. The amount payable has been included in borrowings on the statement of financial position. Required Prepare a statement of cash flows using the direct method