You are given the following financial statement extracts of Morgan trading ltd.
Statement of comprehensive income for the year ended 30 June 2014
|
Sales
|
|
$156,900
|
|
Cost of sales
|
|
$75,800
|
|
Gross profit
|
|
$81,100
|
|
Depreciation expense
|
|
$8,500
|
|
Interest expense
|
$3,400
|
|
|
Other expenses
|
$27,800
|
$39,700
|
|
Net profit before tax
|
|
$41,400
|
|
Income tax expense
|
|
$12,420
|
|
Net profit after tax
|
|
$28,980
|
Statement of financial position extract as at 30 June 2013 and 2014
|
|
|
Yr 2013
|
Yr 2014
|
|
Current assets
|
Prepaid expenses (other)
|
$450
|
$780
|
|
|
Accounts receivable
|
$8,760
|
$7,990
|
|
|
Inventory
|
$17,630
|
$21,750
|
|
Current Liabilities
|
Accounts payable
|
$14,770
|
$12,980
|
|
|
Accrued interest
|
$950
|
$730
|
|
|
Income tax payable
|
$9,800
|
$12,420
|
REQIRED:
Using the indirect method, compute the following cash flow amounts for Morgan trading ltd. for the year ended 30th June 2014.
A. Cash receipts from customers
B. Cash paid to suppliers and employees
C. Interest paid
D. Income tax paid
E. Net cash provided by operating activities