Study the information given below and answer the following questions:

$1\mathrm{.}1$

Calculate the net cash flow from financing activities. Also state whether it is a net cash inflow or net cash outflow.

$(2$ marks$)$

$1\mathrm{.}2$

Calculate the amount that would appear as $$Working capital changes$$ in the Statement of Cash Flows of Fiona Limited.

$(4$ marks$)$

$1\mathrm{.}3$

Calculate the percentage increase in operating expenses over the two$-$year period and comment on your answer.

$(2$ marks$)$

$1\mathrm{.}4$

Comment on the following items over the two$-$year period. $($No ratios are required.$)$

$1\mathrm{.}4\mathrm{.}1$

Non$-$current assets

$(4$ marks$)$

$1\mathrm{.}4\mathrm{.}2$

Inventories

$(4$ marks$)$

$1\mathrm{.}4\mathrm{.}3$

Accounts receivable

$(4$ marks$)$

INFORMATION

The following information was obtained from the financial records of Fiona Limited:

Fiona Limited

Statement of Comprehensive Income for the year ended $31$ December:

$2023($R$)$

$2022($R$)$

Sales

$19000000$

$18000000$

Cost of sales

$(10000000)$

$(9800000)$

Gross profit

$9000000$

$8200000$

Operating expenses

$(5500000)$

$(5200000)$

Operating profit

$3500000$

$3000000$

Interest expense

$(240000)$

$(360000)$

Profit before tax

$3260000$

$2640000$

Company tax

$(880200)$

$(739200)$

Profit after tax

$2379800$

$1900800$

Fiona Limited

Statement of Financial Position as at $31$ December:

$2023($R$)$

$2022($R$)$

ASSETS

Non$-$current assets

$2500000$

$3000000$

Property, plant and equipment

$2500000$

$3000000$

Current assets

$19500000$

$13600000$

Inventories

$12000000$

$8000000$

Accounts receivable

$6500000$

$3600000$

Cash

$1000000$

$2000000$

Total assets

$22000000$

$16600000$

EQUITY AND LIABILITIES

Equity

$16000000$

$10600000$

Ordinary share capital

$12000000$

$8000000$

Retained earnings

$4000000$

$2600000$

Non$-$current liabilities

$2000000$

$3000000$

Long$-$term loan $(12\%)$

$2000000$

$3000000$

Current liabilities

$4000000$

$3000000$

Accounts payable

$3444000$

$2616000$

Dividends payable

$556000$

$384000$

Total equity and liabilities

$22000000$

$16600000$

Additional information

$1.$

All purchases and sales of inventories are on credit.

$2.$

Depreciation for the year ended $31$ December $2023$ amounted to R$500000.$

$3.$

Interim dividends paid out during the financial year ended $31$ December $2023$ amounted to R$423800.$

$4.$

Credit terms to debtors are $30$ days and credit terms from suppliers are $60$ days