Question: Conduct Cash Flow Statement for Operating Activities using the below information for both the direct method and the indirect method $Operating profit 8 0 ,

Conduct Cash Flow Statement for Operating Activities using the below information for both the direct method and the indirect method $Operating profit80,000Investment income12,000Finance costs-10,000Profit before tax82,000Tax-32,000Profit for the year50,000Other comprehensive income Revaluation gain40,000Total comprehensive income90,000 Closing balanceOpening balance $$Current assets Inventory30,00025,000Receivables20,00026,000Current liabilities Trade payables14,00011,000 Additional informationDuring the year depreciation of $50,000 and amortisation of $40,000 was charged to profit. Receipts from customers, combined with cash sales, were $800,000, payments to suppliers of raw materials $400,000, other operating cash payments were $100,000 and cash paid on behalf and to employees was $126,000.Interest paid is $12,000 and taxation paid is $13,000. Create the extract of the cash flow statements operating activities using:i) the direct methodii) the indirect method Please explain in detail thank you so much

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