Question $3$: Statement of Cash Flows

Set out below are the financial statements of Tui Ltd for the year ended $30$ June:

Tui Ltd

Statement of Profit or Loss

for the year ended $30$ June $2023$

The following additional information was provided:

$($a$)$ All sales and purchases of inventories were on account.

$($b$)$ Accounts payable pertains to inventory creditors.

$($c$)$ During the year, additional equipment was purchased for cash. Old equipment

costing $$47,000$ was sold for cash with a gain of $$8,750.$

$($d$)$ The investment was sold for cash during the year.

$($e$)$ Cash dividends were declared and paid during the year.

$($f$)$ Operating expenses include a depreciation expense of $$49,700.$

$($g$)$ Interest expense and income tax expense were settled in cash.

$($h$)$ Additional shares and notes were issued for cash during the year.

Required:

For the purpose of this question, please ignore GST$,$ but show ALL your workings.

i$.$ Prepare a Statement of Cash Flows for Tui Ltd for the year ended $30$ June $2023$ using

the direct method.

ii$.$ Prepare a reconciliation of net profit after tax to net cash provided from operating

activities.