The statements of financial position of Crash at 31 March 2017 and 31 March 2016 were as follows: 31 March 2017 2016 Reference $000 $000 $000 SOOO to notes Assets Non-current assets (1) Cost 10.950 9.000 Accumulated depreciation (3,600) 7,350 (3,300) 5,700 Current assets Inventories 1.350 1,215 Trade and other receivables 1.290 1,350 Cash 105 2,745 60 2.625 Total assets 10.095 8,325 Equity and liabilities Equity Share capital 3,000 2,250 Share premium account 1.200 750 Revaluation surplus 750 Retained earnings 3,045 7.995 2.640 5,640 Non-current liabilities 10% Loan notes (2) 750 1,500 Current liabilities Trade and other payables 1,080 990 Bank overdraft 270 1.350 195 1,185 Total equity and liabilities 10.095 8,325 Notes: (1) Non-current assets (i) During the year non-current assets, which had cost $1,500,000 and which had a carrying amount of $300,000 at 31 March 2016, were sold for $375,000. (11) Land acquired in 2013 was revalued upwards by $750,000 in preparing the statement of financial position at 31 March 2017. (2) Loan notes Interest is due half-yearly on 30 September and 31 March and was paid on the due dates. The company repaid $750,000 loan notes on 31 March 2017. (3) Profit after interest for the year ended 31 March 2017 was $405,000. No dividends were paid during the year. Required: (a) Prepare a statement of cash flows for Crash for the year ended 31 March 2017 using the indirect method, complying as far as possible with the requirements of IAS 7 "Statement of Cash Flows". (11 marks) (b) Calculate the gearing ratio and the current ratio for Crash for the two years ended 31 March 2016 and 2017. (4 marks)