the following information has been extracted from the draft financial statements of 4375497

The following information has been extracted from the draft financial statements of TEX, a manufacturing entity: TEX – Income statement for the year ended 30 September 2003 September 2003 ………………………………………………………………$ 000 Revenue……………………………………………………15 000 Cost of sales……………………………………………… (9 000) Gross profit………………………………………………….6 000 Other operating expenses………………………………… (2 300) ………………………………………………………………3 700 Finance cost…………………………………………………. (124) Profit before tax…………………………………………….3 576 Income tax expense……………………………………….. (1 040) Dividends…………………………………………………. (1 100) ……………………………………………………………. (1 436) Tex – Balance sheets at 30 September Notes (i) Plant disposed of during the year had an original cost of $2 600 000 and accumulated depreciation of $900 000; cash received on disposal was $730 000. (ii) All additions to non-current assets were purchased for cash, Required: Prepare TEX’s statement of cash flows and associated notes for the year ended 30 September 2003, in accordance with IAS 7, Statements of Cash Flows. View Solution:
The following information has been extracted from the draft financial

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