Green Coil $($Pty$)$ Ltd is a company with a $31$ December year$-$end.

The following is an extract from Green Coil $($Pty$)$ Ltd$$s trial balance for the $31$ December $2023$ financial year:

$2023$

Rand

Note $($Credit$)/$ Debit

Sales $1(889500)$

Cost of sales $699200$

Other income $2(86000)$

Operating expenses $3289000$

Interest paid $15700$

Share capital $(10000)$

Retained earnings $(64050)$

Trade receivables $255000$

Allowance for doubtful debts $(30000)$

Inventory $165000$

Trade payables $(324000)$

Bank $(13550)$

Tax payable $4(6800)$

Notes:

$1.$ All sales are done on credit.

$2.$ Other income consists of the following:

$$ Dividends received $$ R$8900$

$$ Interest received $$ R$22100$

$$ Rental received $$ R$55000$

$3.$ Operating expenses include the following:

$$ Depreciation $$ R$46600$

$$ Loss on sale of vehicle $$ R$5500$

$4.$ Taxable income is equal to loss before tax for the year and tax is calculated at

a rate of $27\%.$

$5.$ The following figures are available for the $31$ December $2022$ financial year:

Rand

$($Credit$)/$ Debit

Trade receivables $364000$

Allowance for doubtful debts $(55000)$

Inventory $120000$

Tax receivable $11300$

Trade payables $(299000)$

 

 

REQUIRED:

Prepare the $$Cash Flows from Operating Activities$$ section of the Statement of Cash

flows for Green Coil $($Pty$)$ Ltd$,$ using the direct method, for the year ended $31$ December $2023.$ Comparative figures and note disclosure are not required.