From the following details you are to draft a statement of cash flows for D. Duncan for the year ending 31 December 2011, using the IAS 7 layout.

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Gross profit Add Discounts received Profit on sale of van Less Expenses Motor expenses Wages General expenses Bad debts Increase in allowance for doubtful debts Depreciation: Van D. Duncan Income Statement for the year ending 31 December 2011 Non-current assets Vans 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 J. Fry Total liabilities Net assets Capital Opening balance b/d Add Net profit Less Drawings Statements of Financial Position as at 31 December 2010 Total capital 18,600 8,200 410 5,900 10,000 15,400 (5,300) 10,100 27,210 37,310 (15,900) 21,410 17,210 21,200 38,410 (17,000) 21,410 410 620 1,940 17,200 830 520 200 1,800 24,000 6,900 720 7,200 7,500 2011 44,700 1,030 45,730 22,490 23,240 8,200 (3,100) 5,100 31,620 36,720 (14,700) 22,020 21,410 23,240 44,650 (22,630) 22,020