REQUIRED

Use the information provided below to prepare the Cash Flow Statement of Alto Limited for the year ended $31$

December $2022.$

INFORMATION

The following amounts were obtained from the Statement of Comprehensive Income for the year ended $31$

December $2022$ and Statement of Financial Position of Alto Limited as at $31$ December $2022$ and $31$

December $2021$:

$31$ Dec $202231$ Dec $2021$

R R

Sales $11000000$

Cost of sales $6500000$

Depreciation $750000$

Operating profit $1650000$

Interest expense $450000$

Company tax for the year $400000$

Property, plant and equipment $($carrying value$)62500005000000$

Long$-$term investments $350000400000$

Inventories $21500002050000$

Accounts receivable $17000001700000$

Prepaid expenses $20000050000$

Cash and cash equivalents $500000350000$

Ordinary share capital $($All shares issued at R$10$ each$)31000003100000$

Retained earnings $30000002500000$

Non$-$current liabilities $36000003350000$

Accounts payable $1100000200000$

Accrued expenses $10000070000$

Dividends payable $200000250000$

Company tax payable $5000080000$

Note:

$$ Dividends paid and recommended during $2022$ amounted to R$300000.$

$$ All purchases and sales of inventories are on credit.

$$ Some of the investments were redeemed during the financial year ended $31$ December $2022.$

$$ Debtors are granted credit terms of $30$ days.