Churchgate Ltds income statements for the year ended 31 December 2019 and 2020, and the statements of financial position as at 31 December 2019 and 2020, are as follows:

CHURCHGATE LTD

Income Statement

For the year ended December

2019

$m

2020

$m

Revenue207153Cost of sales(101)(76)Gross profit10677Other expenses: Distribution expenses(22)(20)Other expenses: Administrative expenses(20)(28)Operating profit6429Interest payable(4)(4)Profit before taxation6025Taxation(16)(6)Profit for the year4419

CHURCHGATE LTD

Statement of financial position

As at 31 December

2019

$m

2020

$m

AssetsCurrent assetsCash19-Accounts receivable2625Inventories24256950Non-current assetsPlant and machinery6256Land and buildings110130172186Total assets241236Equity and liabilitiesCurrent liabilitiesOverdraft-2Trade payables3734Income tax834539Non-current liabilitiesBorrowings loan notes (10%)4040EquityOrdinary share capital100100Retained earnings5657156157Total equity and liabilities241236

Included in other expenses distribution expenses and administrative expenses, depreciation is as follows:

2019

$m

2020

$m

Land and buildings610Plant and machinery1012

There were no non-current asset disposals in either year. The amount of cash paid for interest equalled the expense in each year. Dividends were paid totalling $18 million each year.

Prepare a statement of cash flows from OPERATING ACTIVITIES for the business for 2020.