You are required to draw up a statement of cash flows for K. Rock for the year ending 30 June 2013 from the following information using the IAS 7 layout.

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Gross profit Add Reduction in allowance for doubtful debts Less Expenses: Wages and salaries General trading expenses Equipment running costs Motor vehicle expenses Depreciation: Motor vehicles Equipment Loss on sale of equipment Net profit K. Rock Income Statement for the year ending 30 June 2013 Non-current assets Equipment at cost Less Depreciation to date Motor vehicles at cost Less Depreciation to date Total assets Current liabilities Current assets Inventory Accounts receivable less allowance* Bank Accounts payable Non-current liability Loan from T Pine Total liabilities Net assets Capital Opening balance Add Net profit Statements of Financial Position as at 30 June 2012 Less Drawings Total capital 40,400 (24,600) 28,300 (9,200) 41,700 21,200 12,600 14,300 20,000 15,800 19,100 34,900 75,500 110,400 (34,300) 76,100 65,600 42,500 108, 100 (32,000) 76,100 4 61,400 15,200 8,140 6,390 5,200 6,300 1,600 30,800 (20,600) 28,300 (14,400) 44,600 19,800 28,100 17,500 10,000 2013 155,030 200 155,230 (104,230) 51,000 10,200 13,900 24,100 92,500 116,600 (27,500) 89,100 76,100 51,000 127,100 (38,000) 89,100