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You are given the following financial statement of Noname (Pty) Ltd to prepare cash flow statement. Statemen t of Comprehensive income for the year ended

You are given the following financial statement of Noname (Pty) Ltd to prepare cash flow statement.

Statement of Comprehensive income for the year ended 31 March 2021

Continuing operations

$000

Revenue

77,500

Cost of goods sold

(54,500)

Gross Profit

23,000

Distribution costs

(8,625)

Administration expenses

(5,500)

Profit from operations

8,875

Finance costs

(1375)

Profit before tax

7,500

Tax

(2500)

Profit for the period from continuing operations

5,000

Other comprehensive income (Note i)

3,375

8,375

The Statement of Financial Position of Noname (Pty) Ltdas at 31 March 2021

2021

$000

2020

$ 000

Assets

Non-Current assets

37,500

26,750

Property, Plant and equipment

35,000

26,750

Deferred development expenditure

2,500

-

Current assets

20,575

18,250

Inventories

8,250

9,500

Trade and other receivables

7,375

5,500

Cash and cash equivalents

4,950

3,250

Total assets

58,075

45,000

Equity and Liabilities

Equity

28,875

21,875

Share capital

17,500

17,500

Share Premium

3,375

0

Retained earnings

8,000

4,375

Non-current liabilities

17,450

14,500

8% loans (not iii)

10,200

10,000

Deferred Tax

4,250

2,250

Lease liability

3,000

2,250

Current liabilities

11,750

8,625

Trade and other payables

6,750

5313

Tax liability

3,125

1,812

Lease liability

1,875

1,500

Total liabilities

29,200

23,125

Total Equity and Liabilities

58,075

45,000

Further information

a. The 8% loan notes is repayable with the effective rate of 10%. No loan notes were issued or redeemed during the year.

b. Amortisation of deferred development expenditure was $500,000 and Depreciation of property, plant and equipment was $2,250,000.

c. $62,500 was credited to administrative expenses in respect of government grants during the year.

d. Noname (Pty) Ltd acquired a plant under a lease agreement with an initial value of $3.75 million on 1 July 2020. No non-current assets were disposed during the year. Property revalued upwards by $5million and transferred $1,625,000 of the resulting revaluation surplus this created to deferred tax.

Required:

Prepare Noname (Pty) Ltds the statement of cash flows for the year ended 31 March 2021.

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