(a) Casino is a publicly listed company. Details of its balance sheets as at 31 March 2005 and 2004 are shown below together with other relevant information:

The following supporting information is available:
(i) Details relating to the non-current assets are: Property, plant and equipment at:

Casino revalued the carrying value of its land and buildings by an increase of $70 million on 1 April 2004. On 31 March 2005 Casino transferred $3 million from the revaluation reserve to retained earnings representing the realization of the revaluation reserve due to the depreciation of buildings.
During the year Casino acquired new plant at a cost of $60 million and sold some old plant for $15 million at a loss of $12 million.
There were no acquisitions or disposals of intangible assets.
(ii) The following extract is from the draft income statement for the year to 31 March 2005:

(ii) The short-term deposits meet the definition of cash equivalents,
(iv) Dividends of $25 million were paid during the year.
Required:
As far as the information permits, prepare a statement of cash flows for Casino for the year to 31 March 2005 in accordance with IAS 7, Statements of Cash Flows
(b) In recent years many analysts have commented on a growing disillusionment with the usefulness and reliability of the information contained in some companies' income statements.
Required:
Discuss the extent to which a company's statement of cash flows may be more useful and reliable than its statement of comprehensive income.

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31 March 2005 Sm Balance Sheet as at 31 March 2004 Non-current assets (note (0)) Property plant and equipment Intangibie assets 510 1 270 1 280 Current assets 350 420 372 Trade receivables Interest receivable Short-term deposits 120 1210 2 260 Total assets Share capital and reserves: Ordinary Shares of $1 each Share premium Revaluation reserve Retained earnings 1 098 1270 1570 1 210 1 410 1 165 150 12% loan note 8% variable rate loan note Deferred tax Balance Sheet as at 31 March 2005 3 March 2004 Sm Sm m Sm Current liabilities: Trade payables Bank overdraft Taxation 515 nil 110 530 125 15 670 2 490 625 2 260 Total equity and liabilities 31 March 2005 31 March 2004 Cost Value Cost Carrying value 0m 420 340 760 Valuation Depreciation Carrying Valuation Depreciation Sm 588 Sm Land and buidins 600 440 Sm 12 148 5m 500 445 Sm 80 (32) Operating loss Interest receivable Finance costs Loss before tax Income tax repayment claim Deferred tax charge Loss for the period The finance costs are made up of Interest expenses Penalty cost for early redemption of 2 14 45) (16) fixed rate loan Issue costs of variable rate loan (24