Exercise 22-19 Sheffield Corp. uses the direct method to prepare its statement of cash flows and follows IFRS. Sheffield's trial balances at December 31, 2020 and 2019, were as follows: Debits Cash Accounts Receivable Inventory Property, Plant, and Equipment Cost of Goods Sold Selling Expenses Administrative Expenses Interest Expense Income Tax Expense Dec. 31, Dec. 31, 2020 2019 $55,310 $31,310 33,740 30,320 30,950 47,000 95,970 90,400 260,720 387,900 133,400 167,400 144,600 155,900 15,600 28,600 20,200 56,200 $790,490 $995,030 Credits Allowance for Doubtful Accounts Accumulated Depreciation Accounts Payable Income Taxes Payable Deferred Income Tax Liability 8% Callable Bonds Payable Common Shares Retained Earnings Sales Revenue $1,570 $1,100 26,800 25,000 25,000 15,500 21,130 29,410 5,700 5,000 46,740 45,820 53,600 22,000 44,700 64,600 565,250 786,600 $790,490 $995,030 Additional information: 1. Sheffield purchased $5,570 of equipment during 2020. 2. Bad debt expense for 2020 was $5,450 and write offs of uncollectible accounts totalled $5,280. 3. Sheffield has adopted the policy of classifying the payments of interest as operating activities on the statement of cash flows. Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2020, using the direct method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) Sheffield Corp. Statement of Cash Flows $