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The following are the extracts from the financial statements of Berkley and one of its...

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Accounting

The following are the extracts from the financial statements of Berkley and one of its wholly owned subsidiaries Sanders, the shares which were acquired on 31 October 2017.

STATEMENT OF FINANCIAL POSITION

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Consolidated statement of profit or loss and other comprehensive income for the year ended 31 December 2017

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The following information is also given:

(a) The consolidated figures for 31 December 2017 included Sanders.(b) The amount for depreciation of property, plant and equipment during the year was $78,000. There were no disposals . (c) The cost on 31 October 2017 of the shares of Sanders was $1.086,000, comprising the issue of $695,000 unsecured loan stock at par, 120,000 ordinary shares at $1.00 each at a value of $2.80 each and $55,000 in cash (d) No write down of goodwill was required during the year. (e) Total dividend paid by Berkely (parent) during the period, amounted to $63,000

Required Prepare a statement of cash flow for Berkely and subsidiaries for the year ended 31 December 2017, using the indirect method.

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