QUESTION FOUR $[25]$

The following information was extracted from Ezara Proprietary Limited$$s annual financial statements

for the year ended $29$ February $2024$ in preparation of the Statement of Cash Flows for the current

year:

Ezara Proprietary Limited

Statement of Financial Position as at $29$ February $2024$

$($with comparative values for $28$ February $2023)$:

$29$ February

$2024$

$28$ February

$2023$

ASSETS R R

Equipment $636000324000$

Inventory $8280045600$

Trade Receivables $2280027600$

Bank $237600120000$

Total Assets $979200517200$

EQUITY AND LIABILITIES

EQUITY $662400424800$

Ordinary share capital $396000300000$

Retained Earnings $336000124800$

LIABILITIES $24720092400$

Mortgage Bond $18600048000$

Trade Payables $2520019200$

SARS: Tax Payable $3600025200$

Total Equity and Liabilities $909600517200$

Additional Information:

$1.$ Authorised share capital: $1000000$ Ordinary shares

$2.$ Issued share capital: $100000$ Ordinary shares were sold for cash during the current financial

period.

$3.$ Dividends of R$30000$ were declared on $20$ February $2024$ and paid on $20$ April $2024.$

$4.$ New equipment was purchased during the current financial year for R$240000.$

$4$

$5.$ Ezara raised a long term loan of R$168000$ in May $2023.$

$6.$ The following information was extracted from the statement of comprehensive income for the

year ended $30$ June $2023$:

$$ Sales for the year was R$1464000$

$$ Rental income was R$26400$

$$ Profit on disposal of equipment R$36000$

$$ Depreciation R$48000$

$$ Interest expense R$50400$

$$ Income tax expense R$147600$

$$ Profit after tax R$222000$

Required:

Prepare the statement of cash flows for Ezara Proprietary Limited for the financial year ended

$29$ February $2024$ in compliance with the requirements of the International Financial Reporting

Standards $($IFRS$)$ in as much as the given information allows. Use the indirect method.