The following are the financial statements of Riddle plc for the last two years:
The statements of financial position as at 31 March
| 20X9 | 20X9 | |||||
| 0 | 0 | 0 | 0 | |||
| Non-cur rent assets: | ||||||
| Property, plant and equipment, at cost | 540 | 720 | ||||
| Less accumulated depreciation | (145) | (190) | ||||
| 395 | 530 | |||||
| Investments | 115 | 140 | ||||
| Cur rent assets: | 315 | |||||
| Inventor y | 412 | 418 | ||||
| Trade receivables | 48 | 775 | 438 | |||
| Bank | 1285 | 51 | 907 | |||
| Total assets | 1577 | |||||
| Capital and reser ves: | ||||||
| Ordinar y shares | 600 | 800 | ||||
| Share premium | 40 | 55 | ||||
| Retained ear nings | 217 | 857 | 311 | 1166 | ||
| Non-cur rent liabilities: | ||||||
| 12% debentures | 250 | 200 | ||||
| Cur rent liabilities: | ||||||
| Trade payables | 139 | 166 | ||||
| Taxation | 39 | 178 | 45 | 211 | ||
| Total equity and liabilities | 1285 | 1577 |
Statement of comprehensive income for the year ended 31 March 20X9
| $0 | $0 | |
| Revenue | 2,460 | |
| Cost of sales | 1,780 | |
| Gross profit | 680 | |
| Distribution costs | (124) | |
| Administration expenses | (300) | (424) |
| Operating profit | 256 | |
| Interest on debentures | (24) | |
| Profit before tax | 232 | |
| Tax | (48) | |
| Profit after tax | 184 |
Note: The statement of changes in equity disclosed a dividend of $90,000.
Required:
(a) Prepare the statement of cash flows for Riddle plc for the year ended 31 March 20X9 and show the operating cash flows using the ‘indirect method’.
(b) Calculate the cash generated from operations using the ‘direct method’.
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