Touchstone plcs income statements for the years ended 31 December 2019 and 2020 and statements of financial position as at 31 December 2019 and 2020 are as follows Statements of financial position as at 31 December 2019 and 2020 Notes 1 Included in cost of sales, distribution expenses and administr...

Touchstone plc Statement of cash flows for the year ended 31 December 2020 Notes 1 This is simply ta ...

Touchstone plcs income statements for the years ended 31 December 2019 and 2020 and statements of financial

Question:

Touchstone plc’s income statements for the years ended 31 December 2019 and 2020 and statements of financial position as at 31 December 2019 and 2020 are as follows:

Income statements for the years ended 2019 and 2020 2019 m 173 Revenue Cost of sales Gross profit

Statements of financial position as at 31 December 2019 and 2020

ASSETS Non-current assets Property, plant and equipment Land and buildings Plant and machinery Current assets

Notes:

1. Included in ‘cost of sales’, ‘distribution expenses’ and ‘administrative expenses’, depreciation was as follows:

Land and buildings Plant and machinery 2019 m 5 6 2020 m 6 10

2. There were no non-current asset disposals in either year.

3. The interest payable expense equalled the cash payment made during each of the years.

4. The business paid dividends on ordinary shares of £14 million during 2019 and £18 million during 2020.

5. The Treasury bills represent a short-term investment of funds that will be used shortly in operations. There is insignificant risk that this investment will lose value.

Required:

Prepare a statement of cash flows for the business for 2020.

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