The Statements of Financial Position for Laval Ltd as at 30 June 2016 and 30 June 2015 are provided below: 2016 2015 $ $ 164,448 125,520 258,288 174,192 70,620 94,110 228,390 111,000 501,284 326,916 200,500 139,500 (78,466) (87,166) 1,345,064 884,072 Assets Cash at bank Accounts receivable Prepaid rent Inventory Land Equipment - At cost Less: Accumulated depreciation - equipment Total Assets Liabilities Accounts payable Wages payable Dividends payable Loan Total Liabilities Shareholders' Equity Share Capital Retained Earnings General Reserve Total Shareholders' Equity Total Liabilities and Shareholders' Equity 81,600 78,460 26,166 78,400 264,626 151,694 62,770 6,208 167,400 388,072 550,000 160,000 454,438 336,000 76,000 1,080,438 496,000 1,345,064 884,072 The Income Statement of Laval Ltd for the financial year ended 30 June 2016 is provided below: $ 1,708,774 (1,246,782) 461,992 Income Sales Revenue Less: Cost of Goods Sold Gross Profit Expenses Rent expense Wages Expense Depreciation Expense Loss on disposal of equipment Other Expenses Total Expenses Net profit 31,132 49,926 10,800 9,800 139,730 (241,388) $220,604 QUESTION 2 (continued) - - - Additional Information: - - - - - - - - - - During the financial year ending 30 June 2016: The dividend payable from the last financial year was paid, and a final dividend of $26,166 was declared for the current financial year. Increase in the general reserve was solely due to an amount transferred from Retained Earnings. The original cost of the equipment sold was $32,600. Accumulated Depreciation balance of the equipment sold was $19,500 at the time of sale. New ordinary shares were issued for cash. - - REQUIRED: Prepare a fully classified Statement of Cash Flows for Laval Ltd for the year endea 2016, using the direct method to present cash flows