Below are the comparative statements of financial position of Lithium Ltd.

	Lithium ltd Comparative Statements of Financial Position as at 30 June
			2017				2018
	ASSETS Petty cash Cash at bank Bank bills Accounts receivable Allowance for doubtful debts		$102 960    (6 960)		$     200 24 200 10 000 96 000		$127 400  (11 400)		$     400 30 600 12 000 116 000
	Inventory Motor vehicles Acc. depr. – motor vehicles		42 000  (10 000)		74 600 32 000		50 400  (12 800)		70 800 37 600
	Office furniture  Acc. depr. – off. furn.		16 000    (7 600)		8 400		18 400   (8 400)		10 000
					$245 400				$277 400
	LIABILITIES AND EQUITY Accounts payable Current tax liability Share capital Retained earnings				$  45 000 3 200 165 000    32 200				$  47 200 4 200 196 000    30 000
					$245 400				$277 400

Additional information

(a) Income statement details were: sales revenue $750 000; cost of sales $603 000; expenses $116 360 (excludes depreciation and carrying amount of vehicle sold); bad debts expense $14 440; and tax expense $4200.

(b) A dividend was paid during the year.

(c) A vehicle that cost $5600 originally was sold during the year for $3000. The vehicle had been depreciated by $3200 at date of sale.

(d) The company pays tax in one instalment. The single instalment of $3200 due by 21 October 2017 was paid.

Required

Prepare a statement of cash flows for the year ended 30 June 2018 in accordance with the direct method. Include any appropriate notes.