The draft financial statements of Monza Cars Ltd are set out below: Monza Cars Ltd Extract...

  

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The draft financial statements of Monza Cars Ltd are set out below: Monza Cars Ltd Extract Statement of profit or loss for the year ended 30 September 2017 £000 Sales Cost of sales Gross Profit Profit on sale of non-cument asset Operating expenses Depreciation Interest Profit for the period Monza Cars Lid Statements of financial position 600 (410) 190 10 200 (70) (30) (20) 80 Assets Non-current assets (see note) Current assets Inventory Receivables Bank and cash Total assets Monza Cars Ltd Statements of financial position Equity and liabilities Share Capital Retained earnings 2017 £000 EDDO 45 90 40 450 175 625 400 95 495 £000 E000 35 40 20 520 95 615 400 55 455 Non-current liabilities Loan Current liabilities Payables Declared dividends Total equity and liabilides 70 40 20 110 625 10 50 100 60 615 Note 1: Monza Ltd purchased non-current assets for £40,000 during the year ended 30 September 2017. Note 2: Dividends declared for the year ended 30 September 2017 were £40,000 Required: (a) Prepare the Statement of cash flows for Monza for the year ended 30 September 2017 in accordance with IAS7 Statement of cash flows. The draft financial statements of Monza Cars Ltd are set out below: Monza Cars Ltd Extract Statement of profit or loss for the year ended 30 September 2017 £000 Sales Cost of sales Gross Profit Profit on sale of non-cument asset Operating expenses Depreciation Interest Profit for the period Monza Cars Lid Statements of financial position 600 (410) 190 10 200 (70) (30) (20) 80 Assets Non-current assets (see note) Current assets Inventory Receivables Bank and cash Total assets Monza Cars Ltd Statements of financial position Equity and liabilities Share Capital Retained earnings 2017 £000 EDDO 45 90 40 450 175 625 400 95 495 £000 E000 35 40 20 520 95 615 400 55 455 Non-current liabilities Loan Current liabilities Payables Declared dividends Total equity and liabilides 70 40 20 110 625 10 50 100 60 615 Note 1: Monza Ltd purchased non-current assets for £40,000 during the year ended 30 September 2017. Note 2: Dividends declared for the year ended 30 September 2017 were £40,000 Required: (a) Prepare the Statement of cash flows for Monza for the year ended 30 September 2017 in accordance with IAS7 Statement of cash flows.

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You have provided financial statements for Monza Cars Ltd and have asked to prepare the statement of cash flows for the year ended 30 September 2017 i... View the full answer