The statements of financial position of Axis plc as at 31 December 2009 and 2010 and the income statement for the year ended 31 December 2010 were as follows:

During the year, plant (a non-current asset) costing £15 million and with accumulated depreciation of £10 million was sold. The short-term investments were government securities, where there was little or no risk of loss of value. The expense and the cash outflow for interest payable were equal. During 2010 a dividend of £14 million was paid.

Required: 

Prepare a statement of cash flows for Axis plc for the year ended 31 December 2010.

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Statements of financial position as at 31 December 2009 2010 £m £m £m £m ASSETS Non-current assets Property, plant and equipment Land and building at cost Accumulated depreciation 130 130 (30) 100 (32) 98 Plant and machinery at cost Accumulated depreciation 70 80 (17) 53 (23) 57 153 155 Current assets Inventories 25 24 Trade receivables 16 26 Short-term investments 12 Cash at bank and in hand 41 69 224 Total assets 194 EQUITY AND LIABILITIES Equity Share capital Retained eamings 100 100 36 40 136 140 Non-current liabilities Borrowings - 10% loan notes 20 40 Current liabilities Trade payables 31 36 Тахation 38 44 Total equity and liabilities 194 224 Income statement for the year ended 31 December 2010 £m Revenue 173 Cost of sales (96) Gross profit Sundry operating expenses Deficit on sale of non-current asset 77 (24) Depreciation - buildings - plant Operating profit (2) (16) 34 Interest receivable Interest payable (2) Profit before taxation 34 Тахation (16) Profit for the year 18