Reference no: EM132841602
Question - A summarised comparative statement of financial position of CSL Ltd is presented below.
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|
30-Jun-21
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30-Jun-20
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Cash
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$132,000
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$90,000
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|
Trade Receivable
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$97,000
|
$135,000
|
|
Inventories
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$87,000
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$93,000
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|
Prepayments
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$15,000
|
$18,000
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|
Land
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$135,000
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$135,000
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|
Plant
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$570,000
|
$450,000
|
|
Accumulated Depreciation
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($105,000)
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($85,000)
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|
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$931,500
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$835,500
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Trade Payable
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$67,500
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$78,000
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|
Long-term Borrowings
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$255,000
|
$300,000
|
|
Share Capital
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$420,000
|
$345,000
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|
Retained Earnings
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$189,000
|
$112,500
|
|
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$621,000
|
$835,500
|
Additional information
There were no disposals of land or plant during the year.
A $100,000 borrowing was settled through the issue of ordinary shares. There were no other repayments of borrowings.
Profit for the year was $90,000, interest expense was $40,000, and income tax paid was $25,000. There were no items of other comprehensive income.
A $13,500 dividend was paid during the year.
Sales revenue for the year was $900?,000. There was no other revenue.
Required - Prepare the operating activities section of the statement of cash flows using the indirect method of presentation for the year ended 30 June 2021.