(Answered) Question - equity plc has the following statements of

Accounting

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.

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