Use the financial statements provided below to answer Question 4. Happy Manufacturing Ltd Statement of Financial Position as at 30 June 2019 Current Assets 2019 Cash at bank 52,800 Accounts receivable 41,600 Inventory 24,000 Pre-Paid rent 750 Total Current Assets 119,150 Non-Current Assets PPE 50,000 Accumulated depreciation: PPE - 16,000 Total Non-current Assets 34,000 Total ASSETS $ 153,150 $ 2018 33,000 34,000 15,000 500 82,500 50,000 -8,000 42,000 124,500 Liabilities Accounts payable Salaries & Wages payable Total Current Liabilites Equity Ordinary shares Retained earnings 21,000 18,200 39,200 24,000 8,000 32,000 A 66,000 47,950 54,000 38,500 Retained earnings 47,950 113,950 38,500 92,500 Total Equity Total LIABILITIES & EQUITY $ 153,150 $ 124,500 Happy Manufacturing Ltd Statement of Financial Performance for the year ended 30 June 2019 Revenue Sales 490,000 Less Cost of Sales 420,000 Gross Profit 70,000 Operating Expenses Depreciation expense Salaries & Wages expense Rent expense Total Expenses 8,000 32,000 16,800 48,800 NET PROFIT $ 21,200 QUESTION 4: STATEMENT OF CASHFLOWS (20 Marks) Using the financial statements for Happy Manufacturing Ltd provided above, use the DIRECT METHOD to prepare the CASH FLOW FROM OPERATIONS section ONLY of the Statement of Cash Flows including breakdown of accounts for the year ending 30 June 2019 using the summarised template provided below. Make sure you show ALL your workings in the template below. Happy Manufacturing Ltd Statement of Cash Flows for the year ended 30 June 2019 Cash Flows from Operations Cash receipts from customers Cash payments to suppliers -- Cash payments to employees --- Cash payments to others Net Cash Flow from Operating Activities Question 4 Workings Cash receipts from customers Cash payments to suppliers Cash payments to employees Cash payments to others