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Section C Answer TWO questions out of Three (40 marks) Question 10 As at 30 June 2022 and 30 June 2021 Turmeric Plc had the following summarised statements of financial position. Remember to regularly save your work An extract from Turmeric Plc's income statement for the year ended 30 June 2022 was as follows: An extract from Turmeric Plc's income statement for the year ended 30 June 2022 was as follows: The following additional information is relevant: i) The depreciation charge for the year amounted to 239,000 and has been included in cost of sales for the year. Remember to regularly save your work Sheet 13 of 17 Module Code: ACFI 2307 REFERRED/DEFERRED ii) During the year, plant with an original cost of 750,000 and a carrying amount at the date of disposal of 674,000 was sold for 670,000 which was received in cash. iii) Any movement on the non-current asset investments has been included in finance income. There have been no additions or disposals of non-current investments during the year. iv) Other components of equity comprise of: ii) During the year, plant with an original cost of 750,000 and a carrying amount at the date of disposal of 674,000 was sold for 670,000 which was received in cash. iii) Any movement on the non-current asset investments has been included in finance income. There have been no additions or disposals of non-current investments during the year. iv) Other components of equity comprise of: v) A bonus issue of 1:10 shares was made in December 2021 out of share premium and a cash issue occurred in March 2022. REQUIRED: a) Prepare a statement of cash flows for Turmeric Plc for the year ended 30 June 2022 in accordance with IAS 7, using the indirect method. (17 marks) b) State THREE reasons to explain how it is possible to generate a cash inflow and make an accounting loss in the same period