COMPARATIVE BALANCE SHEETS

AS AT 30 JUNE

Current Assets	2021		2020
Cash at Bank	31 000		7 200
Accounts Receivable (net)	32 800		41 000
Inventory	18 000		21 000
Prepaid Expenses	8 000	$89 800	12 000	$81 200
Non-Current Assets
Computer	450 000		410 000
Less:Accum. Depreciation	(28 200)	421 800	(21 000)	389 000
Total Assets		511 600		470 200
Current Liabilities
Accounts Payable	18 000		20 000
Expenses Payable	2 000		3 000
Tax Payable	16 400	36 400	22 000	45 000
Non-Current Liabilities
Bank Loan		25 000		25 000
Total Liabilities		61 400		70 000
Net Assets		$450 200		$400 200
Equity
Capital Mr. Light		450 200		400 200
		$450 200		$400 200

INCOME STATEMENT

FOR THE YEAR ENDED 30 JUNE 2021

Net Sales		$207 000
Cost of Sales		99 000
Gross Profit:		108 000
Other Revenue:
Discount Received	$4 500
Interest Revenue	11 000	15 500
		123 500
Expenses:
Selling & Admin Expense	24 000
Doubtful Debts Expense	3 500
Depreciation Expense	7 200
Interest Expense	2 800	37 500
Profit before tax		86 000
Income Tax Expense		26 000
Profit		$60 000

a. Prepare a Statement of Cash Flows in the pro forma provided on the following page. You must show all calculations (an answer without supporting calculations will receive zero marks)

$ $2 Cash Flows from Operating Activities Receipts from customers Payments to suppliers & employees Cash generated by operations Interest paid Income tax paid Cash Flows from Investing Activities Interest receivede Payment for Computer Cash Flows from Financing Activities Drawings ] ] Net increase / decrease in cash helde Cash at the beginning of the year Cash at the end of the year