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as follows The financial statements of Merlin plc have been prepared 014 & 2015 Statement of financial position as at 30 June 2 2015 2015 2014 2014 E000 £000 £000 £000 Non-current assets: PPE at cost 10,520 12,450 Accumulated depreciation (4,460) 7,990 (3,960) 6,560 1,460 810 Development costs Investments 1,840 1,070 Current assets: Inventory Trade receivables Cash 4,320 3,610 240 3,830 8,100 19,000 8,170 17,000 180 Equity and liabilities Ordinary shares of £1 each 6,700 Share premium account 5,400 1,470 5,240 13,410 4,540 Retained earnings 11,090 Non-current liabilities 8% debentures 1,400 Current liabilities Trade payables Taxation Dividend declared Bank overdraft Total equity & liabilities 3,690 1,480 150 270 3,160 1,140 210 5,590 19,000 4,510 17,000 The following information is available: 1. Extract from statement of Income £000 Operating profit Dividend received 1,450 70 Premium on debentures (168) Profit before taxation 1,200 350) Interest paid Income tax Profit after tax 1850 2. Operating expenses written off in the year include the following:

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Answer #1
Statement of Cash Flows for Merlin Plc for the year ended 30 june 2015
Particulars Amount $ (000) Amount $ (000)
Operating Cash Flows
Profit before interest and income taxes                   1,200
Add back depreciation (175+550)                      725
Add Loss on sale of equipment                      210
Add Premium on redemption of debentures                      168
Add back impairment of assets
Increase in receivables (3610-4090)                     -480
Decrease in inventories (4320-3830)                      490
Increase in trade paybles                      530
Interest expense                      152
Less: Dividend received                       -70
Income taxes paid (1140+350-1480)                        10                   1,735
Cash flows from operating activities (a)                   2,935
Investment Cash Flows
Sale of equipment (470-210)                      260
Purchase of Investments (810-1070)                     -260
Development Costs (1460-1840-175)                     -555
Purchase PPE (10520-470-12450)                  -2,400
Cash flows from Investment activities (b)                  -2,955
Financial Cash Flows
Issuance of Common stock (6700-5400)                   1,300
Share premium account (1470-1150)                      320
Redemption of debentures                  -1,400
Premium on Redemption of debentures                     -168
Interest paid                     -152
Dividend paid                     -210
Bank OD                      270
Cash flows from Financial activities (c)                       -40
Net Operating Cash flows (a+b+c)                       -60
Add: Opening Cash Balance                      240
Closing Cash Balance                      180

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