X Ltd. gives you the following information for the year ended on 31 March 2011:
- Sales for the year totalled is Rs.48,00,000. The Company sells goods for cash only.
- Cost of goods sold was 60% of the sales. Closing inventory was higher than the opening inventory by Rs.21,500. Trade creditors on 31 March 2011 exceeded those on 31 March 2010 by Rs.11,500.
- Net profit before tax was Rs.6,90,000. Tax paid amounted to Rs.3,50,000. Depreciation on fixed assets for the year was Rs.1,57,000, whereas other expenses totaled Rs.10,72,500. Outstanding expenses on 31 March 2010 and 31 March 2011 totaled Rs.41,000 and Rs.45,000, respectively.
- New machinery and furniture costing Rs.5,13,750 in all were purchased.
- A right issue was made of 1,000 equity shares of Rs.250 each at a premium of Rs.75 per share. The entire money was received along the applications.
- Dividends and corporate dividend tax totaling Rs.2,03,500 were paid.
- Cash in hand and at bank as on 31 March 2010 totaled Rs.1,06,900.
You are required to prepare cash flow statement using indirect method.