The Statements of Financial Position of Safe Di Pte Ltd, a company incorporated in Singapore and that adopts the Singapore Financial Reporting Standards, as at 31 December 20X8 and 31 December 20X9, and its Statement of Profit or Loss for the year ended 31 December 20X9 are as follows:

Additional Information:

(i) New long-term notes amounting to $27,000 were issued in March 20X9. Some long-term notes were repaid during the year.

(ii) In September 20X9, Safe Di Pte Ltd sold furniture that had cost $49,000 for cash.

(iii) The company bought a separate piece of furniture for cash in October 20X9.

(iv) The companys practice is to classify interest receipts and dividend receipts as under operating cash flows and interest payments and dividend payments as under financing cash flows on the Statement of Cash Flows.

(v) When preparing the Statement of Cash Flows, the companys practice is to present the section on cash flows from operating activities using the indirect method.

Question:

Prepare Safe Di Pte Ltds Statement of Cash Flows for the year ended 31 December 20X9 as required under Singapore Financial Reporting Standard 7 Statement of Cash Flows. Please show all workings clearly to get full credit.

Safe Di Pte Ltd Statements of Financial Position As at 31 December, 20X9 and 20X8 20X9 20X8 $ $ Assets Current Assets Cash Accounts receivable Supplies Interest receivable Total current assets 28,390 44,630 9,770 820 83,610 31,110 35,420 11,750 1,150 79,430 Non-Current Assets Furniture Accumulated depreciation Furniture, net 295,710 (100,470) 195,240 242,360 (90,270) 152,090 Total assets 278,850 231,520 Liabilities and Shareholders' Equity Current Liabilities Accounts payable Dividend payable Income tax payable Total current liabilities 29,630 2,960 5,100 37,690 25,760 1,270 8,670 35,700 Non-Current Liabilities Long-Term note payable 59,370 35,770 Shareholders' Equity Share capital Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 132,730 49,060 181,790 278,850 132,730 27,320 160,050 231,520 Safe Di Pte Ltd Statement of Profit or Loss For the Year Ended 31 December 20X9 $ Revenue 280,760 Salaries expense (123,000) Supplies expense (43,900) Depreciation expense (29,040) Other expenses (9,180) Gain on sale of furniture 880 Interest income 1,270 Interest expense (4,680) Profit before tax 73,110 Income tax expense (15,160) Profit after tax 57,950