Which of the following statements about company financial statements is/are correct, according to International Financial Reporting Standards? 1 2 3 ABCD Dividends paid on ordinary shares should be included in the statement of profit or loss and other comprehensive income. Dividends paid on redeemable preference shares are treated in the same way as dividends paid on ordinary shares. The statement of profit or loss and other comprehensive income shows the gain on revaluation of non-current assets for the period. 1, 2 and 3 2 and 3 3 only D All three statements are correct. 4. (2 marks) In the course of preparing a company's statement of cash flows, the following figures are to be included in the calculation of net cash from operating activities. $ Depreciation charges 980,000 Profit on sale of non-current assets 40,000 Increase in inventories 130,000 Decrease in receivables 100,000 80,000 Increase in payables What will the net effect of these items be in the statement of cash flows? ABCD 5. $ Addition to operating profit 890,000 Subtraction from operating profit (890,000) Addition to operating profit 1,070,000 Addition to operating profit 990,000 (2 marks) At 31 March 20X3, Plank Co had a liability outstanding for income tax of $130,000. In the statement of profit or loss for the year ended 31 March 20X4, Plank Co had an income tax charge of $145,000, and an income tax liability in the statement of financial position of $140,000 What is the cash outflow for income tax for inclusion in the statement of cash flows of Plank Co for the year ended 31 March 20x4? $ 6.