REQUIRED: Use the information provided below to prepare the Cash Flow Statement of Starlite Limited for the year ended $31$ December $2023.$INFORMATIONThe information given below was obtained from the books of Starlite Limited on $31$ December $2023($the end of the financial year$)$:STATEMENT OF FINANCIAL POSITION AS AT $31$ DECEMBER:$20232022$R RASSETSProperty, plant and equipment $37200002280000$Long$-$term investments $1320000900000$Inventories $21000002580000$Trade and other receivables $25200001800000$Bank $15000001320000111600008880000$EQUITY AND LIABILITIESOrdinary Share Capital $72000006000000$Retained Income $30000002316000$Trade and other payables $900000456000$Company tax payable $60000108000111600008880000$EXTRACT FROM THE STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED $31$ DECEMBER $2023$RSales $?$Cost of sales $(5304000)$Gross profit $3096000$Depreciation $(420000)$Other expenses $(1176000)$Operating profit $1500000$Interest income $120000$Profit before tax $1620000$Company tax $(480000)$Profit after tax $1140000$ADDITIONAL INFORMATION$■$ All purchases and sales of inventories were on credit.$■$ Equipment was purchased for cash.$■$ A vehicle with a cost price of R$720000$ and accumulated depreciation of R$120000$ was sold at carrying value.$■$ Long$-$term investments were increased during the financial year ended $31$ December $2023.■$ Interim dividends paid during $2023$ amounted to R$456000.$ No final dividends were declared.$■$ The issued share capital for the year ended $31$ December $2023$ consisted of $1000000$ ordinary shares.$■$ Trade and other receivables comprised trade debtors only. Trade and other payables consisted of trade creditors only 

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To prepare the Cash Flow Statement of Starlite Limited for the year ended 31 December 2023 you need to follow the indirect method by adjusting the net ... View the full answer