Extracts from the statements of financial position of ABC 30 June 2020 30 June 2019

                                                                        € million               € million

Ordinary shares of €1 each                             800                        500

Share premium                                                 200                           -

Retained earnings                                            250                        300

On 1 July 2019, a bonus issue of one new share for every 5 was made. This was followed by a further full-market price issue for cash. The profit for the year ended 30 June 2020 was €50 million. No cash dividends were paid.

What amount will appear under 'cash flows from financing activities in the statement of cash flows of Winter Co for the year ended 30 June 2020 as 'proceeds from issuing shares?

Answer rating: 100% (QA)

Cash Flow Statement Cash flow statement is the part of financial statements that shows the cash that ... View the full answer