A summarised comparative statement of financial position of Kangaroo Ltd is presented below.

30-Jun-20 30-Jun-19

Cash $80,000 $60,000

Accounts Receivable $65,000 $90,000

Inventories $58,000 $62,000

Prepayment $10,000 $12,000

Land $90,000 $90,000

Plant $380,000 $300,000

Accumulated Depreciation ($70,000) ($57,000)

$621,000 $557,000

Accounts Payable $45,000 $52,000

Long-term Borrowings $170,000 $200,000

Share Capital $280,000 $230,000

Retained Earnings $126,000 $75,000

$621,000 $557,000

Additional information

• There were no disposals of land or plant during the year.
• A $30,000 borrowing was settled through the issue of ordinary shares. There were no other repayments of borrowings.
• Profit for the year was $120,000, interest expense was $24,000, and income tax paid was $20,000. There were no items of other comprehensive income.
• A $49,000 dividend was paid during the year.
• Sales revenue for the year was $600,000. There was no other revenue.

Required

Prepare the operating activities section of the statement of cash flows using the indirect method of presentation for the year ended 30 June 2020.(5 Marks)