The summarised comparative Statement of Financial Position for the year ended 30 June 2021 for Zuma Ltd, along with additional information, is presented below: 30 June 2020 30 June 2021 Cash $140 000 $78 000 Term deposit (90 days) 22 000 20 000 Accounts receivable 350 000 376 000 Allowance for doubtful debts (46 000) (50 000) Prepayments 40 000 30 000 Inventories 120 000 208 000 Equipment 80 000 150 000 Accumulated depreciation - equipment (16 000) (31 000) Plant 736 000 840 000 Accumulated depreciation - plant (90 000) (140 000) Deferred tax asset 40 000 49 000 $1 376 000 $1530 000 Bank overdraft $2 000 $34 000 Accounts payable 260 000 300 000 Provision for employee benefits 64 000 76 000 Interest payable 6 000 8 000 Current tax liability 54 000 62 000 Dividend payable 76 000 82 000 Dividend payable 76 000 82 000 Borrowings 130 000 150 000 Deferred tax liability 30 000 18 000 Share capital 670 000 700 000 Retained earnings 84 000 100 000 $1 376 000 $1530 000 Additional information for the year 1 July 2020 - 30 June 2021: The company issued $20,000 worth of shares as part payment for the purchase equipment. The balance owing for the purchase was paid in cash. Plant with a cost of $40,000 (accumulated depreciation $10,000) was sold. A gain on sale of plant $13,000 was recorded in profit for the year. The company made a repayment on borrowings of $40,000; and paid an interim dividend in cash. The profit after tax for the year ended 30 June 2021 was $203,000. Included in the profit were the following: sales $2,168,000; gain on sale of plant $13,000; discount received $2,000; cost of sales $1,416,000; administration costs $188,000; distribution costs $272,000; interest expense $12,000; and, income tax expense $92,000 Included in distribution costs was a bad debts expense of $18,000, discount allowed of $6,000 and depreciation expense for the year. Zuma Ltd uses the direct method for presenting cash flows from operating activities. Required: The senior accountant for Zuma Ltd has prepared the above statements and provided the additional information for the year ended 30 June 2021. However, they have not yet prepared the Statement of Cash Flows. As their junior accountant, you are required to do the following: a) Identify the cash and cash equivalents (CCE) and calculate the beginning balance and ending balance for CCE. (3 marks) b) Using formulas or T-accounts, show calculations for all cash inflows and outflows that you will need to disclose in the Statement of Cash Flows. (30 marks) c) Prepare the Statement of Cash Flows for the year ended 30 June 2021 for Zuma Ltd in accordance with AASB 107. (7 marks) The summarised comparative Statement of Financial Position for the year ended 30 June 2021 for Zuma Ltd, along with additional information, is presented below: 30 June 2020 30 June 2021 Cash $140 000 $78 000 Term deposit (90 days) 22 000 20 000 Accounts receivable 350 000 376 000 Allowance for doubtful debts (46 000) (50 000) Prepayments 40 000 30 000 Inventories 120 000 208 000 Equipment 80 000 150 000 Accumulated depreciation - equipment (16 000) (31 000) Plant 736 000 840 000 Accumulated depreciation - plant (90 000) (140 000) Deferred tax asset 40 000 49 000 $1 376 000 $1530 000 Bank overdraft $2 000 $34 000 Accounts payable 260 000 300 000 Provision for employee benefits 64 000 76 000 Interest payable 6 000 8 000 Current tax liability 54 000 62 000 Dividend payable 76 000 82 000 Dividend payable 76 000 82 000 Borrowings 130 000 150 000 Deferred tax liability 30 000 18 000 Share capital 670 000 700 000 Retained earnings 84 000 100 000 $1 376 000 $1530 000 Additional information for the year 1 July 2020 - 30 June 2021: The company issued $20,000 worth of shares as part payment for the purchase equipment. The balance owing for the purchase was paid in cash. Plant with a cost of $40,000 (accumulated depreciation $10,000) was sold. A gain on sale of plant $13,000 was recorded in profit for the year. The company made a repayment on borrowings of $40,000; and paid an interim dividend in cash. The profit after tax for the year ended 30 June 2021 was $203,000. Included in the profit were the following: sales $2,168,000; gain on sale of plant $13,000; discount received $2,000; cost of sales $1,416,000; administration costs $188,000; distribution costs $272,000; interest expense $12,000; and, income tax expense $92,000 Included in distribution costs was a bad debts expense of $18,000, discount allowed of $6,000 and depreciation expense for the year. Zuma Ltd uses the direct method for presenting cash flows from operating activities. Required: The senior accountant for Zuma Ltd has prepared the above statements and provided the additional information for the year ended 30 June 2021. However, they have not yet prepared the Statement of Cash Flows. As their junior accountant, you are required to do the following: a) Identify the cash and cash equivalents (CCE) and calculate the beginning balance and ending balance for CCE. (3 marks) b) Using formulas or T-accounts, show calculations for all cash inflows and outflows that you will need to disclose in the Statement of Cash Flows. (30 marks) c) Prepare the Statement of Cash Flows for the year ended 30 June 2021 for Zuma Ltd in accordance with AASB 107. (7 marks)