Some of the most recent financial statements for Barium Pty Ltd are shown below:

	Hyland pty ltd Comparative Statements of Financial Position as at 30 June
				2017		2018
	assets Cash at bank Accounts receivable Inventory Sales equipment Accumulated depreciation – sales equipment Land Buildings Accumulated depreciation – buildings			— $  56 000 192 000 120 000 (36 000) 160 000 240 000    (12 000)		$  36 000 68 000 224 000 144 000 (60 000) 80 000 240 000  (20 000)
				$720 000		$712 000
	LIABILITIES AND EQUITY Accounts payable Bank overdraft Equity			$  96 000 40 000 584 000		$  104 000 — 608 000
				$720 000		$712 000

	Hyland pty ltd Income Statement for the year ended 30 June 2018
	Sales revenue Expenses: Cost of sales: Beginning inventory Purchases		$  192 000 224 000							$360 000
	Ending inventory		416 000 224 000			$192 000
	Depreciation – sales equipment Depreciation – buildings Other expenses (paid in cash) Loss on sale of land Loss on sales of equipment					28 000 8 000 80 000 16 000   12 000				336 000
	Profit									$24 000

Additional information

(a) All purchases and sales of inventories are on credit.

(b) On 1 July 2017, the shareholders injected a further capital contribution of $28 000 cash into the business.

(c) During the year, sales equipment costing $24 000 and written down to a carrying amount of $20 000 was sold for $8000 cash.

(d) Half of the land on hand at the beginning of the year was sold for $64 000 cash.

(e) During the year, the company withdrew cash from the business bank account in order to pay cash dividends to its shareholders.

(f)  The bank overdraft in the company is considered to be an integral part of the company’s cash management arrangements.

(g) Ignore income tax.

Required

Prepare the statement of cash flows for Hyland Pty Ltd for the year ended 30 June 2018, using the direct method.