Concord Limited, which follows IFRS, has adopted the policy of classifying interest paid as operating activities and dividends paid as financing activities. Condensed financial data for 2020 and 2019 follow (in thousands): CONCORD LIMITED Comparative Statement of Financial Position December 31 2020 Cash $2,005 FV-Nl investments 1.300 Accounts receivable 1,840 Inventory 1,605 Plant assets 1.950 Accumulated depreciation (1,200) $7,500 2019 $1,150 1.420 1,370 2,005 1.710 (1,170) $6,485 Accounts payable Accrued liabilities Mortgage payable Common shares Retained earnings $1.290 275 1,330 2,005 2,600 $7,500 $970 325 1,580 1.710 1.900 $6,485 CONCORD LIMITED Income Statement Year Ended December 31, 2020 Sales Cost of goods sold Gross margin Administrative expenses Income from operations Other expenses and gains Interest expense $(20) Gain on disposal of FV-Nl investments 80 Income before tax Income tax expense Net income $6,875 4.700 2,175 910 1,265 60 1.325 405 $920 Additional information: During the year, $70 of common shares were issued in exchange for plant assets. No plant assets were sold in 2020. The FV-Nl investments' carrying amount and market value were the same at December 31, 2020. Prepare a statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in Concord Limited Statement of Cash Flows $