QUESTION 4 CASH FLOW STATEMENT (20 Marks) REQUIRED: Cash Flow Statement of Great Oceans Limited for the year ended 28 February 2017 Great Oceans Limited Statement of comprehensive income for the year ended 28 February 2017\begin{tabular}{|l|l|l|}\hline & Notes & 2017\\\hline Sales & & 500000\\\hline Cost of sales & & (300000)\\\hline Gross profit & & 200000\\\hline Operating expenses & & (160800)\\\hline wages & & 95800\\\hline depreciation & & 12000\\\hline Audit fees & & 8000\\\hline Directors fees & & 42000\\\hline Sundry expenses & & 3000\\\hline Operating profit & & 39200\\\hline Interest expense & & (9200)\\\hline Profit before taxation & & 30000\\\hline Taxation & & (13500)\\\hline Profit after taxation & & 16500\\\hline \end{tabular} Great Oceans Limited Statement of financial position as at 28 February 2017\begin{tabular}{|l|l|l|l|}\hline & Notes & 2017 & 2016\\\hline ASSETS & & & \\\hline Non-current assets & & 182700 & 151000\\\hline Tangible assets & 2 & 182700 & 151000\\\hline & & & \\\hline Current assets & & 95000 & 100300\\\hline Inventory & & 60000 & 52000\\\hline Trade and other receivables & & 23000 & 28600\\\hline Cash and cash equivalents & 3 & 12000 & 19700\\\hline & & & \\\hline TOTAL ASSETS & & 277700 & 251300\\\hline & & & \\\hline EQUITY AND LIABILITIES & & & \\\hline Capital reserves & & 180500 & 138000\\\hline Ordinary share capital & & 166000 & 130000\\\hline Retained income & & 14500 & 8000\\\hline & & & \\\hline Non-current liabilities & & 60000 & 80000\\\hline Mortgage loan & & 60000 & 80000\\\hline & & & \\\hline Current liabilities & & 37200 & 33300\\\hline Trade and other payables TOTAL EQUITY AND LIABILITIES & 4 & 37000277700 & 33300251300\\\hline \end{tabular}