Please answer the question following the answer format

2024 43,000 84,500 113,500 25,000 265,000 (100,000) 40,000 (10,000) 461,000 67,000 250 3,000 66,250 125,000 199,500 461,000Cash flows from operating activities: Cash receipts from customers Cash paid to suppliers and employees Cash generated from operations Interest paid Net cash from operating activities Cash flows from investing activities: Proceeds from sale of land Payment for building extensions Net cash used in investing activities Cash flows from financing activities: Proceeds from mortgage loan Dividends paid Net cash from financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 17,501 62,001 (b) Complete T-accounts to show your workings for preparing the Statement of Cash Flows for Declare Ltd. Please include commas in your amounts (do not include spaces or dollar Workings: Cash receipts from customers: T-account for: Accounts Receivable Balance b/d ash from customers Sales Balance c/d Cash paid to suppliers: Cash payments for purchases: T-account for: Invento Balance b/d Cost of sales Purchases Balance c/d T-account for: Accounts Payable ash pai Balance b/d Balance c/d Purchases T-account for: Other Expenses Payable \"Cash paid Balance b/d Balance c/d Other expenses* Dividends paid: T-account for: Retained Earnings Dividends paid Balance b/d Balance c/d Profit for the period *Other expenses calculated as: Expenses (from "Additional information"): $129,250 Less: Building depreciation (show minus figure in brackets) [: | Less: Plant depreciation (show minus figure in brackets) : | Less: Loss on sale of land (show minus figure in brackets) [: Less: Interest expense (show minus figure in brackets) : | Equals: Other expenses : Interest paid: T-account for: Interest Payable Cash paid Balance b/d Balance c/d Interest expense Purchase of property, plant and equipment: T-account for: Land Balance b/d Cost of land sold Balance c/d T-account for: Buildings Balance b/d Balance c/d Extensions QUESTION 1 Statement of cash flows 10 points Comparative information as at 30 June 2023 and 30 June 2024 for Declare Ltd is as follows. Save Answer Assets Cash at bank Accounts receivable Inventory Land Buildings Accumulated depreciation buildings Plant and equipment Accumulated depreciation plant and equipment Liabilities and equity Accounts payable Interest payable Other expenses payable Mortgage loan payable Share capital Retained earnings DECLARE LTD Comparative statements of financial position as at 30 June 2023 62,000 76,000 124,000 62,500 137,500 (85,000) 40,000 (5,000) 412,000 60,500 750 8,750 45,000 125,000 172,000 412,000 Additional information 1. Gross profit for the year ended 30 June 2024 was $160,500 and consisted of the following. Sales 443,500 Cost of sales 283,000 2. Purchases of inventory for the year were $272,500. 3. All purchases and sales of inventories were on credit. 4. Profit for the year ended 30 June 2024 was $31,250, after deducting expenses of $129,250 from the gross profit figure. 5. Expenses of $129,250 include depreciation on buildings, and on plant and equipment, a loss on sale of land, and $5,000 in interest expense. 6. Duringthe year ended 30 June 2024, cash dividends were paid. 7. Building extensions were paid for during the year, and a block of land, costing $37,500, was sold for $31,250 cash. 8. No plant was purchased or sold during the year. Required (a) Prepare the Statement of Cash Flows for Declare Ltd for the year ended 30 June 2024 using the direct method. Please follow the below instructions when completing the cash flow statement below: Please include commas in your amounts to separate thousands in your amounts (do not include spaces or dollar signs) Show minus figures in brackets (), e.g. (145,000)