Azure Ltd. had the following 2020 income statement data: 

Sales revenue.......................................................................$205,000 

Cost of goods sold.................................................................120,000 

Gross profit...............................................................................85,000 

Operating expenses (includes depreciation of $21,000)....50,000 

Income before income taxes 35,000 Income taxes 15,000 

Net income..............................................................................$ 20,000 

The following accounts increased during 2020 by the amounts shown: Accounts Receivable, $17,000; Inventory, $11,000; Accounts Payable (relating to inventory), $13,000; Taxes Payable, $2,000; and Mortgage Payable, $40,000. 

(a) Prepare the cash flows from operating activities section of Azure's 2020 statement of cash flows using the direct method and following IFRS. 

(b) How would the disclosure requirements differ under ASPE?