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use the information provided above to prepare the cashflow statement of corel limited for the year ended 31 december2018. take your time to answer it am not in a hurry

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QUESTIONS 4 AND 5 ARE BASED ON THE FOLLOWING INFORMATION: INFORMATION

Corel Ltd’s Statement of Comprehensive Income for the year ended 31 December 2018 and Statement of Financial Position as at 31 December 2017 and 2018 are as follows:

STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2018

R
sales(all credit) 2 304 000
cost of sales (1 228 000)
gross proft 1 076 000
other operating income 84 000
1 160 000
distribution expenses (260 000 )
admin expenses (104 000)
operating profit 796 000
interest income 68 000
interest expense (92 000)
profit before tax 772 000
income tax (184 000)
profit after tax 588 000


STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER:

ASSETS 2018 2017

R R
Non-current assets 2 264 000 2 200 000
propety,plant and equipment:
land and buildings 964 000 964 000
plant and machinery 1 300 000 1 236 000
Current assets 720 000 660 000
inventiries 164 000 176 000
trade and other receivables(all accounts receivables)400 000 424 000
cash and cash equivalents 156 000 60 000
Total assets 2 984 000 2 860 000
EQUITY AND LIABILITIES
Equity 1 452 000 704 000
ordinary share capital 960 000 600 000
retained earnings 492 000 104 000
Non-current liabilities 1 000 000 1 600 000
long-term borrowings 1 000 000 1 600 000
Current liabilities 532 000 556 000
trade and other payables 440 000 492 000
SARS: Income tax 92 000 64 000
Total equity and liabilities 2 984 000 2 860 000

Additional information 1. Additional plant and machinery were purchased during 2018. There were no other non-current asset acquisitions or disposals. Depreciation for the year amounted to R316 000.

2. An interim dividend of R200 000 was paid on ordinary shares during the year.

3. The return on equity for 2017 was 18%

REQUIRED

Use the information provided above to prepare the Cash Flow Statement of Corel Limited for the year ended 31 December 2018.

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The following information was extracted from the accounting records of Mode Ltd for the 
financial year ended 30 June 2022.                                                                                                                      
Extract from: Statement of Profit or loss and other comprehensive income 
of Mode Ltd for the year ended 30 June 2022                                                                                                                                                                                                   
Gross profit : 1 440 000                                                          
Dividends received: 43 000
Profit on sale of machine: 75 000
Depreciation : (15 000)
Interest expense: (180 000)
Distribution, administration and other expenses: (403 000)
Taxation: (420 000)
Profit for the year after taxation: 540 000

Extract from: Statement of financial position of Mode Ltd as at 30 June 2022:
ASSETS                                                                                                  30 June 2022                      30 June 2021
Land and buildings                                                                            925 000                                 890 000
Machinery at carrying amount                                                     875 000                                 250 000
Investments                                                                                          235 000                                 385 000
Inventory                                                                                                170 000                                  480 000
Trade debtors                                                                                       140 000                                 400 000
Receiver of revenue – income tax                                               10 000                                     Nil
Bank balance                                                                                        30 000                                    15 000
 Total assets                                                                                           2 385 000                             2 420 000
                                                                                                                                                                                              
EQUITY AND LIABILITIES
EQUITY                                                                                                    1 565 000                               940 000
Ordinary share capital                                                                        745 000                                480 000
Retained earnings                                                                                820 000                               460 000
                                                                                                                                                                                     
LIABILITIES                                                                                              820 000                             1 480 000
Long term Borrowings                                                                        750 000                              1 050 000
Trade creditors                                                                                         60 000                                 352 000
Receiver of revenue – income tax                                                     Nil                                            43 000
Shareholders for dividends                                                                 10 000                                    35 000
Total equity and liabilities                                                                 2 385 000                           2 420 000                                                                                      
                                                                                                                                                                                        
 Additional information:
1. Shares were issued for cash during the year.
2. Dividends of R180 000 were declared during the current financial year.
3. On 31 October, machinery with a carrying amount of R110 000 was sold for cash. A 
replacement machine as well as additional machinery was purchased for cash. 
4. No long term borrowings were made during the year.
5. Investments were sold during the year. No new investments were purchased.
Required:
Take all the above information into account and prepare the statement of cash flows for 
Mode Ltd for the year ended 30 June 2022. Use the indirect method. Your answer must 
comply with the International Financial Reporting Standards (IFRS) appropriate to this type 
of business. 
Show all workings. Round off all workings to the nearest Rand.

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