QUESTION $1(20$ Marks$)$ REQUIRED Use the information provided below to prepare the Cash Flow Statement of Grenville Limited for the year ended $31$ December $2023.$ INFORMATION The information given below was obtained from the records of Grenville Limited: STATEMENT OF FINANCIAL POSITION AS AT $31$ DECEMBER: $20232022$ R R ASSETS Property, plant and equipment $($cost$)49800003240000$ Accumulated depreciation $(1260000)(960000)$ Long$-$term investments $1320000900000$ Inventory $21000002580000$ Accounts receivable $25200001800000$ Bank $15000001320000111600008880000$ EQUITY AND LIABILITIES Ordinary share capital $72000006000000$ Retained earnings $30000002316000$ Accounts payable $900000456000$ Company tax payable $60000108000111600008880000$ EXTRACT FROM THE STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED $31$ DECEMBER $2023$ R Sales $8400000$ Cost of sales $5304000$ Depreciation $420000$ EBIT$/$Operating profit $1500000$ Interest income $120000$ Company tax $480000$ Profit after tax $1140000$ ADDITIONAL INFORMATION $$ The profit before the changes in working capital amounted to R$1920000.$ All purchases and sales of inventories were on credit. $$ Equipment was purchased for cash. $$ Vehicles with a cost price of R$720000$ and accumulated depreciation of R$120000$ were sold at carrying value. $$ Interim dividends paid during the year amounted to R$456000.$ No final dividends were declared. $$ The issued share capital for the year ended $31$ December $2023$ consisted of $500000$ ordinary shares. The market price of a share in Grenville Limited was $1500$ cents on $31$ December $2023.$ The creditors granted Grenville Limited credit terms of $30$ days. $$ The following ratios were calculated at the end of $2023$ and $2022$: $20232022$ Acid test ratio $4\mathrm{.}19$:$15\mathrm{.}53$:$1$ Gross margin $36\mathrm{.}86\%49\mathrm{.}45\%$ Average payment period $46$ days $29$ days QUESTION $2(20$