A summarised comparative statement of financial position of Black Inc. is presented below:

	31 Dec 2016	31 Dec 2017
Cash	$25 000	$45 000
Trade receivables	50 000	65 000
Investments in financial assets	40 000	50 000
Plant	130 000	180 000
Accumulated depreciation	(45 000)	(60 000)
	$200 000	$280 000
Trade accounts payable	$6 000	$4 000
Interest payable	7 000
Current tax payable	20 000	28 000
Deferred tax liability	-	3 000
Borrowings	40 000	10 000
Share capital	100 000	130 000
Retained earnings	27 000	105 000
	$200 000	$280 000

Additional information

1. There were no disposals of plant during the year.
2. There were no purchases or sales of investments in financial assets during the year. Gains and losses on changes in the fair value of investments in financial assets are recognised in profit or loss.
3. Black Inc. settled a loan (borrowings) of $30 000 by issuing ordinary shares. There were no other repayments of borrowings.
4. Profit for the year was $101 000, interest expense was $14 000, and income tax expense was $31 000. There were no items of other comprehensive income.
5. A $23 000 dividend was paid during the year.
6. Service revenue for the year was $300 000. There was no other revenue.
7. Black Inc. classifies interest as an operating activity.

Required :

Using the indirect method of presenting cash flows from operating activities, statement of cash flows in accordance with IAS 7 for the year ended 31 December 2017.