Draw up a statement of cash flows for Gerry Peace for the year ending 31 December 2017 using the IAS 7 layout. You are told that fixtures bought in 2003 cost £800, whilst a van was bought for £11,000.

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Pat Bond Statements of Financial Position as at 31 December 2016 2017 Non-current assets Buildings 100,000 100,000 Fixtures less Depreciation 3,600 Van less Depreciation 7,840 111,440 4,000 14,800 118,800 Current assets Inventory 11,200 24,800 Trade accounts receivable 12,800 16,400 Bank 1,800 Cash 440 400 26,240 41,600 Total assets Accounts payable 137,680 160,400 12,600 6,012 Bank overdraft 188 12,600 6,200 Non-current liabilities Loan (repayable in 10 years time) 20,000 30,000 Total liabilities (32,600) (36,200) Net assets 105,080 124,200 Capital account: Balance at 1 January Add Net profit for the year Cash introduced Less Drawings Total capital 74,080 105,080 70,400 42,320 20,000 144,480 167,400 (39,400) (43,200) 105,080 124,200