Question - Equity PLC has the following statements of financial position and income statements for the years ending 31st October 20X4 and 20X3.
The following additional information is available:
1) Equity PLC recorded an increase in the value of its land of £2,000,000 during the year.
2) The company has proposed dividends of £8,000,000 for the year.
3) During the year, an item of machinery that originally cost £3,000,000 was sold for £500,000 - making a loss on disposal of £1,000,000. This item is included in the operating expenses.
Required:
a) Prepare a Statement of Cash Flows for the year ended 31st October 20X4 in accordance with IAS 7 (revised), using the indirect method.
b) Prepare a Business Report commenting on the cash position of Equity PLC.
Attachment:- Assignment.rar