Prepare a statement of cash flows using the direct method for the year ended 30 June 2021 (show all workings).

Question 2 The comparative statements of nancial position for the years 2020 and 2021 and a summarised income statement for the year ended 30 June 2021 are shown below (Ignore GST and Tax): BRIGHTON BEACH LTD Comparative Statements of Financial Position as at 30 June 2020 ($'000) 2021($'000) Assets Cash 100 700 Accounts receivable 4 290 3 150 Inventory 6 000 6 600 Prepaid insurance 300 360 Equipment 19 200 25 500 Accumulated depreciation equipment (6 000) ("I 500) Land 20 400 24 000 Motor vehicles 14 550 15 600 Accumulated depreciation motor vehicles M 4 1 1&6 3 } Total assets 53 350 62 110 Liabilities Bank overdraft 400 160 Accounts payable 6 150 7 950 Long-term mortgage 14 100 18 900 Total liabilities 20 650 27 010 Net assets 32M_ 15.11]!! Equity Share capital 26 700 26 700 Retained earnings m w Total eguity 32.1011 3.5.1110 BRIGHTON BEACH LTD Income Statement for the ear ended 30 June 2021 $'000 Sales (on credit) Less: Cost of goods sold Gross prot Less: expenses (including depreciation) Prot Additional information: Insurance expense for the year ended 30 June 2021 is nil. All other expenses were paid in cash (excluding depreciation). The company declared and paid cash dividend. The bank overdraft was considered to be part of the entity's everyday cash management activities. Required Prepare a statement of cash ows using the direct method for the year ended 30 June 2021 (show all workings)