You have been asked to prepare the statement of cash flows for Neo Ltd for the yearended 30 November 2021.The most recent income statement and statement of financial position (withcomparatives for the previous year) of Neo Ltd are set out below.Neo Ltd – Income Statement for the year ended 30 November 2021Revenue104,567Cost of sales(71,358)Gross profit33,209Profit on disposal of property, plant andequipment10633,315Distribution costs(12,789)Administrative expenses(16,371)Profit from operations4,155Finance costs(608)Profit before tax3,547Тах(726)Profit for the period2,821 a) Prepare the statement of cash flows for Neo Ltd for the year ended 30November 2021 using the indirect method.

Cash Flow statement from Indirect Method

ed 30 November 2021. most recent income statement and statement of financial positi nparatives for the previous year) of Neo Ltd are set out below. Ltd – Income Statement for the year ended 30 November 2021 evenue 104,567 pst of sales (71,358)

ed 30 November 2021. most recent income statement and statement of financial positi nparatives for the previous year) of Neo Ltd are set out below. Ltd – Income Statement for the year ended 30 November 2021 evenue 104,567 pst of sales (71,358)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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