Torrent plc?s income statement for the year ended 31 December 2014 and the statements of financial position as at 31 December 2013 and 2014 are as follows: Income statement for the year ended 31 December 2014

Statements of financial position as at 31 December 2013 and 2014

During 2014, the business spent ?67 million on additional plant and machinery. There were no other non-current asset acquisitions or disposals. There was no share issue for cash during the year. The interest payable expense was equal in amount to the cash outflow. A dividend of ?60 million was paid.

Required:Prepare the statement of cash flows for Torrent plc for the year ended 31 December 2014.

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£m 623 Revenue (353) Cost of sales Gross profit Distribution expenses 270 (71) (30) Administrative expenses Rental income 27 Operating profit Interest payable 196 (26) Profit before taxation 170 Taxation (36) Profit for the year 134 2013 2014 £m £m ASSETS Non-current assets Property, plant and equipment Land and buildings Plant and machinery 310 310 325 314 635 624 Current assets Inventories 41 35 Trade receivables 139 145 180 180 Total assets 815 804 EQUITY AND LIABILITIES Equity Called-up ordinary share capital Share premium account Revaluation reserve 200 300 40 69 Retained eamings 123 197 432 506 Non-current liabilities Borrowings – loan notes 250 150 Current liabilities Borrowings (all bank overdraft) Trade payables 56 89 54 41 Taxation 23 18 133 148 Total equity and liabilities 815 804