Below are the summarised financial statements of Cromarty Trafalgar plc for the year ending 3 0 June
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Question:
Below are the summarised financial statements of Cromarty Trafalgar plc for the year ending June : Summarised Income Statement for the year ending th June :SalesCost of Sales Gross ProfitDistribution and administration costs Operating ProfitInterest Receivable Interest Payable Profit before taxation TaxationProfit after taxation Dividends for the year were leaving retained profits of Statement of Financial PositionNonCurrent AssetsCurrent assets:StockInventoryReceivablesdebtorsCurrent liabilities:PayablesCreditors Interest payable Tax Bank overdraft Net current liabilitiesTotal net assets Capital and reserves:Share capital ordinary sharesShare premiumRetained profits Additional information:Additions to noncurrent assets during the year were at costThe depreciation charge for the year was The assets disposed of during the year made a net loss of The amount of interest received was the same as that credited to the income statement.
Required:Prepare a statement of cash flows using the indirect methodCromarty Trafalgar Cash Flow Statement for the year ended June
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