Additional information:

1.		Investments in land were sold at a gain during 2020.
2.		Equipment costing $57,900 was sold for $17,490, resulting in a gain.
3.		Common shares were issued in exchange for some equipment during the year. No other shares were issued.
4.		The remaining purchases of equipment were paid for in cash.

Prepare the operating activities section of the statement of cash flows using the direct method.

Information from the statement of financial position and statement of income is given below for Bridgeport Road Inc., a company following IFRS, for the year ended December 31. Bridgeport Road has adopted the policy of classifying interest paid as operating activities and dividends paid as financing activities. Comparative Statement of Financial Position, at December 31 2020 2019 Cash $93,500 $47,850 Accounts receivable 92,600 38,000 Inventory 130,400 110,650 Investments in land 94,000 117,000 Property, plant, and equipment 290,000 207,000 Accumulated depreciation (48,900) (40,000) $651,600 $480,500 Accounts payable Accrued liabilities Notes payable Common shares Retained earnings $54,300 12,200 146,000 260,000 179,100 $651,600 $49,280 19,430 78,000 210,000 123,790 $480,500 Statement of Income, year ended December 31, 2020 Revenues Sales revenue $291,690 Gain on disposal of investment in land 5,000 Gain on disposal of equipment 8,890 305,580 Expenses Cost of goods sold $99,160 Depreciation expense 58,200 Operating expenses 14,720 Income tax expense 38,100 Interest expense 2,920 213,100 Net income $92,480