Exercise 4-19 (Algo) IFRS; statement of cash flows (LO4-8, 4-9) The statement of cash flows for the year ended December 31, 2021, for Bronco Metals is presented below. $118,800 BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: Collections from customers $ 373,000 Interest on notes receivable 4,400 Dividends received from investments 2,800 Purchase of inventory (190,000) Payment of operating expenses (63,000) Payment of interest on notes payable (8,400) Net cash flows from operating activities Cash flows from investing activities: Collection of notes receivable 120,000 Purchase of equipment (194,000) Net cash flows from investing activities Cash flows from financing activities: Proceeds from issuance of common stock 240,000 Dividends paid to shareholders (44,000) Net cash flows from financing activities Net increase in cash Cash and cash equivalents, January 1 Cash and cash equivalents, December 31 (74,000) 196,000 240,800 28,200 $269,000 Required: Prepare the statement of cash flows assuming that Bronco prepares its financial statements according to International Financial Reporting Standards. Where IFRS allows flexibility, use the classification used most often in IFRS financial statements. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Cash and cash equivalents, January 1 Cash and cash equivalents, December 31