QUESTION $4(25$ MARKS$]$The statements of financial position of Waircom Ltd were as follows:Statements of financial position as at $31$ December:Non$-$current assetsProperty, Plart and equpmetSoftwareCurrent assetsInventoriesTrade receivablesT$-$BillsCashTotal assetsEquity and liabilitiesShare capital $($$$1$ ordinary shares$)$Share premiumRetained earningsRevaluation surplusNon$-$current liabilities$10\%$ Loan notesCurrent liabilitiesTrade payablesInterestTaxRevenueCost of salesGross profitExpensesFinance costProfit before taxIncome tax expenseProfit for the yearAdditional information$1\mathrm{.}2\mathrm{.}3\mathrm{.}4\mathrm{.}5\mathrm{.}2020$$ $000$The T$-$Bills has matured on $31$ January $2021.|$Year endedAccumulated depreciation$44,87041,7005,7604,50050,63046,2009,600$The revaluation surplus relates only to PPE.REQUIRED$8,50080030,0002,0001,50071,53063,4001,0005,3005,00047,640$Total equity and liabilitiesStatement of profit or loss for the year ended $31$ December $202011,3409,00020198,100$$$0002,000$There was a right issue during the year for cash.$ $1\mathrm{.}88$ million was paid as dividend during the year$\mathrm{.}60010,70071,5308,1007,60013,1909,20031$ December $2019$$$1$ million$29,70060044,3006,4003,0005009,90063,400$$ $00060,800(48,600)12,200(8,320)(500)3,380$Regarding the software, a software amounting to $ $1\mathrm{.}5$ million was purchasedduring the year to improve the process of production. However, no software wasdisposed.$(1\mathrm{.}200)$The following information relates to Property, Plant and Equipment $($PPE$)$:$2,180$Page $6$ of $9$Moreover, a PPE cOsting $ $500,000$ with a net book value of $ $350,000$ wasdisposed for $ $400,000$ during the year ended $31$ December $2020\mathrm{.}31$ December $2020$$ $1\mathrm{.}4$ million$($a$)$ Prepare the statement of cash flows for the year ended $31$ December $2020$ underthe indirect method in accordance with IAS$7-$ Statement of Cash Flows.$(22$ Marks$]20,90017,200$