Question 3 (20 marks) King Kong as a sole trader in his business for the past 3 years provides the following data: KING KONG Comparative Statements of Financial Position as at 30 June 2018 2019 CURRENT ASSETS Cash Accounts receivable Inventory Prepaid insurance NON-CURRENT ASSETS Equipment Accum depre equipment Land Motor vehicles Accum deppre vehicles $4 290 6 000 300 19 200 (6 000) 20 400 14 550 (5 490) $540 3 150 6 600 360 25 500 (7 500) 24 000 15 600 (6 300) TOTAL ASSETS 53 250 61 950 CURRENT LIABILITIES Bank overdraft Accounts payable 300 6 150 7 950 NON-CURRENT LIABILITIES Long-term mortgage 14 100 18 900 TOTAL LIABILITIES 20 550 26 850 NET ASSETS $32 700 $35 100 EQUITY King Kong, Capital $32 700 $35 100 TOTAL EQUITY $32 700 $35 100 KING KONG Income Statement for the year ended 30 June 2019 Sales Less: Cost of sales $16 800 5 100 GROSS PROFIT Less:Expenses (includ depre) 11 700 8 610 PROFIT $3 090 Additional information: King contributed $6000 cash as capital and made cash withdrawals during 2019. Besides, the bank overdraft was considered to be part of the entitys every-day cash management activities. Required: Use the indirect method to prepare a Statement of Cash Fl