USMAN Plc.
Statement of Profit or Loss and Other Comprehensive Income
for the year ended 31 December 2013

USMAN Plc.
Comparative Statements of Financial Position as at:

Additional information extracted from the company’s records are:

(i) Plant which had a carrying amount of N20,000,000 was sold for N28,000,000
cash and new equipment was purchased for N100million.
(ii) Intangibles valued at N30,000,000 were acquired for cash.
(iii) Borrowings of N20,000,000 were made during the year and received in cash.
(iv) Dividends paid in cash amounted to N100,000,000.

Required:

Prepare Statement of Cash Flows for USMAN Plc for the year ended 31 December 2013
in accordance with IAS7 using direct method.