UNS 4 AND S ARE INFORMATIOASED ON THE FOLLOWING INFORMATION Corel Ltd\'s Stateme

Question

UNS 4 AND S ARE INFORMATIOASED ON THE FOLLOWING INFORMATION Corel Ltd's Statement of Income Financial Position as at 31 December 2017 an THE FOLLO NFORMATON: ehensive Income for the year ended 31 December 2018 and Statement 2018 are as follows: F STATEMENT OF COMPREHENSIVE E INCOME FOR THE YEAR ENDED 31 DECEMBER 2018 Sales (all credit) Cost of sales Gross profit Other operating income Distribution expenses Administrative expenses Operating profit Interest income Interest expense Profit before tax Income tax 2 304 000 (1 228 000) 1 076 000 84 000 1 160 000 (260 000) (104 000) 796 000 68 000 (92 000) 772 000 (184 000) Profit after tax 588 000

Explanation / Answer

4.

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COREL LTD. Statement of Cash Flows For the Year Ended December 31, 2018 Cash Flows from Operating Activities Profit after tax 588000 Adjustments to reconcile net income to net cash provided by operations: Depreciation expense 316000 Decrease in Trade and other receivables 24000 Decrease in Inventories 12000 Decrease in Trade and other payables -52000 Increase in SARS: Income tax payable 28000 328000 Net cash provided by operating activities 916000 Cash Flows from Investing Activities Purchase of plant and machinery -380000 Net cash used by investing activities -380000 Cash Flows from Financing Activities Payment of long-term borrowings -600000 Issuance of ordinary share capital 360000 Payment of interim dividend -200000 Net cash used by financing activities -440000 Net increase (decrease) in cash 96000 Cash and cash equivalents, beginning balance 60000 Cash and cash equivalents, ending balance 156000

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