Use the Balance Sheet and Income Statement provided to complete the cash flow stat provided in the template. Please show all workings. Mugs Ltd COMPARATIVE BALANCE SHEETS AS AT JUNE 30 2020 2019 $ $ 30 000 6 000 181 000 2 000 140 000 5 000 80 000 2 000 60 000 215 000 75 000 140 000 50 000 447 000 185 000 60 000 125 000 20 000 394 000 Current Assets Cash at Bank Cash on Hand Accounts Receivable (net) Prepaid Rent Inventory Non-Current Assets Vehicles less Accum. Depr Vehicles Investments Total Assets Current Liabilities Bank Overdraft Accounts Payable Wages Payable Income Tax Payable Non-Current Liabilities Loan Total Liabilities Net Assets Shareholders' Equity Share Capital Retained Profits 12 000 20 000 2 000 30 000 5 000 27 000 8 000 100 000 130 000 317 000 150 000 224 000 170 000 80 000 60 000 237 000 317 000 110 000 170 000 Mugs Ltd INCOME STATEMENT FOR THE YEAR ENDED JUNE 30, 2020 $ 995 000 480 000 515 000 Net Sales Cost Of Goods Sold Gross Profit: Other Revenue: Gain on Sale of Assets Interest Income 5 000 3 000 8 000 523 000 Expenses: 161 000 88 000 4 000 Selling & Distribution Expenses Administrative Expenses Bad Debts Expense Depreciation Expense Interest Expense Net profit before tax Income tax expense Net profit 30 000 8 000 291 000 232 000 65 000 167 000 Additional information: Vehicles which had an historic cost of $40,000 was sold for $30,000 making the company a gain on disposal of the asset of $5,000. Question 4 Complete the Cash Flow Statement in the table provided Mugs Ltd STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2020 $ Cash Flows from Operating Activities Receipts from customers Payments to suppliers & employees Cash generated by operations Interest received Interest paid Income tax paid Cash Flows from Investing Activities Cash on Disposal of Vehicles Purchase of Vehicles Purchase of Investments Cash Flows from Financing Activities Loan Share capital issued Dividends paid Net increase 1 (decrease) in cash held Cash at the beginning of the year Cash at the end of the year