On the Go Pty Ltd is a small proprietary limited company that sells caffeine-based beverages. The opening bank balance on 1 January 2017 was $45,000….

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On the Go Pty Ltd is a small proprietary limited company that sells caffeine-based beverages.The opening bank balance on 1 January 2017 was $45,000. The following is a summary of business transactions for the year ending 31 December 2017′. $Receipts from customers 450.000Payments for inventory 285.000Loan Proceeds 35.000Payments for wages 158.000Cash purchase of equipment 100.000Dividends declared 60.000Dividends paid 26,000Payment of interest 8,000Profit on the sale of equipment 65.000Depreciation of equipment 25.000Interest received 10.000Income taxes paid 15,500Cash proceeds from sale of old equipment 21,000Cash Equity injection 35.000 Required: Prepare a statement of cash flows as at 31 December 2017 using the template on page 16.

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