Question 3

The following extracts are from the financial statements of Grindolo Co. for the year ended 31 December 2019:

Additional information:

(i) Profit from operations is after charging depreciation on the property, plant and equipment of €22 million and amortisation on the intangible fixed assets of €7 million.

(ii) The revaluation reserve relates wholly to property, plant and equipment.

(iii) During the year ended 31 December 2014, plant and machinery costing €1,464 million, and with a carrying amount of €424 million at 31 December 2013, was sold for €250 million.

(iv) During the year ended 31 December 2014, 25 million 20c shares were issued at a premium of €2.80. (v) Dividends paid during the year were €49 million

Required:

Prepare a Statement of Cash Flow for Grindolo Co for the year ended 31 December 2019 in compliance with IAS 7.