The summarised comparative Statement of Financial Position for the year ended 30 June 2020 for Snow Ltd, along with additional information, is presented below:

	30 June 2019	30 June 2020
Cash	$70 000	$39 000
Term deposit (90 days)	11 000	10 000
Account receivable	175 000	188 000
Allowance for doubtful debt	(23 000)	(25 000)
Prepayment	20 000	15 000
Inventory	60 000	104 000
Equipment	40 000	78 000
Accumulated depreciation Equipment	(8 000)	(18 500)
Plant	368 000	429 000
Accumulated depreciation Plant	(45 000)	(70 000)
Deferred tax asset	20 000	24 500
	$698 000	$765 000
Bank overdraft	0	17 000
Accounts Payable	130 000	150 000
Provision for employee benefits	33 000	38 000
Interest payable	3 000	4 000
Current tax liability	27 000	31 000
Dividend payable	53 000	50 000
Borrowings	65 000	75 000
Share capital	335 000	350 000
Retained earnings	42 000	50 000
	$698 000	$765 000

Additional information for the year 1 July 2019 30 June 2020:

The company issued $10 000 worth of share as part payment for the purchase of equipment. The balance owing for purchases was paid in cash.

Plant with a cost of $20 000 (accumulated depreciation $5 000) was sold. A gain on sale of plant $4 000 was recorded in profit for the year.

The company made a repayment on borrowing of $30 000.

The profit after tax for the year ended 30 June 2020 was $98 000. Included in the profit were the following: sales $1 084 000; gain on sale of plant $4 000; cost of sales $708 000; administration cost $94 000; distribution costs $136 000; interest expense $6 000; and income tax expense $46 000,

Included in distribution costs was a bad debts expense of $9 000, discount allowed of $3 000 and depreciation expense for the year.

Snow Ltd uses the direct method for presenting cash flows from operating activities.

Required:

Calculate and prepare cash flows for the year ended 30 June 2020 for Snow Life Ltd, using the direct method of presentation of operating activities. (Show all workings)