118. The statement of cash flows for the year ended December 31, 2011 for Whiteside Incorporated is presented below. Whiteside Incorporated Statement of Cash Flows For the Year Ended December 31, 201 1 Cash flows from operating activities: Collections from customers $420.000 Interest on note receivable 12,000 Dividends received 4.500 Purchase of inventory (156.000) Payment of operating expenses (83.000) Payment of interest on debt (16.000 Net cash flows from operating activities $181.500 Cash flows from investing activities: Sale of investments 42.090 Purchase of equipment (180.000) Net cash flows from investing activities (138.000) Cash flows from financing activities: Proceeds from issuance of long-term debt 200.090 Purchase of treasury stock (140.000) Dividends paid (50.000) Net cash flows from financing activities 10.000 Net increase in cash 53.500 Cash and cash equivalents. January I 68.900 Cash and cash equivalents. December 31 $122.400 Required: Prepare the statement of cash flows assuming that Whiteside prepares its financial statements according to International Financial Reporting Standards. Where IFRS allows flexibility, use the classification used most often in IFRS financial statements