The statement of financial position of Michael Limited at 31 December, 2017 and 2018 were as follows: Notes 31/12/2017 GH4000 31/12/2018 GH#000 Non-current assets Tangible assets 1 730 1,100 Investment at cost 2 100 50 830 1,150 Current assets Inventory 80 110 Receivables 110 180 Cash at banks 20 30 210 1,040 Equity Stated capital 4 500 680 Capital surplus 100 200 Income surplus 200 190 800 1,070 Non-current liabilities 10% loan notes 3 100 150 900 1.220 Current liabilities Trade payables 100 120 Bank overdraft OF 130 140 1,040 250 1,470 Notes 1. Tangible assets: During the year tangible assets with a net book value of GH80,000 were sold for GH60,000. The depreciation charge for the year on all tangible assets held at the end of the year was GH 100,000 2 3. Investments: Investments which cost GH 50,000 were sold during the year for GH40.000 10% Loan notes: GH50,000 of 10% loan notes were issued on 1 January 2018. All interest to 31" December has been paid 4 Stated capital: The Company's stated capital at 31 December 2017 consisted of GH 500,000 of ordinary shares. Another 80,000 shares were issued during the year at a price of GH2 25 per share. 5. Capital surplus: The freehold land and buildings were revalued upwards by GHe 100,000 during the year. Required: Prepare the company's statement of cash flows for the year ended 31 December 2018 complying with IAS 7 Statements of cash flows. Ignore taxation. Question 20 Boakye Limited is worried about its financial situation and has given you the following financial statements for your perusal 16