QUESTION $4(20$ Marks$)$

REQUIRED

Prepare the Cash Flow Statement of Concha Limited for the year ended $31$ December $2023.$

INFORMATION

CONCHA LIMITED

STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED $31$ DECEMBER $2023$

R

Sales $2484000$

Cost of sales $(1212000)$

Gross profit $1272000$

Selling and administrative expenses $(504000)$

Operating profit $768000$

Interest expense $(48000)$

Profit before tax $720000$

Company tax $(192000)$

Profit after tax $528000$

STATEMENT OF FINANCIAL POSITION AS AT $31$ DECEMBER:

Assets $20232022$

R R

Non$-$current assets $22440001764000$

Land and buildings $13200001128000$

Plant and machinery $744000636000$

Investments $1800000$

Current assets $648000540000$

Inventories $288000300000$

Accounts receivable $306000192000$

Cash and cash equivalents $5400048000$

Total assets $28920002304000$

Equity and liabilities $20232022$

R R

Equity $18720001560000$

Ordinary share capital $(300000$ shares$)12000001200000$

Retained earnings $672000360000$

Non$-$current liabilities $480000240000$

Long$-$term loan $480000240000$

Current liabilities $540000504000$

Accounts payable $288000336000$

Company tax payable $9600048000$

Dividends payable $156000120000$

Total equity and liabilities $28920002304000$

Additional information

$$ Selling and administrative expenses included the following:

R

Depreciation on buildings $72000$

Depreciation on plant and machinery $120000$

$$ There were no disposals of property, plant and equipment during $2023.$

$$ Total dividends for the year ended $31$ December $2023$ amounted to R$216000.$

$$ Ninety percent $(90\%)$ of all purchases and sales of inventories are on credit