Information from the statement of financial position and statement of income is given below for Blue Road Inc., a company following IFRS, for the year ended December 31. Blue 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 Cash Accounts receivable Inventory Investments in land Property, plant, and equipment Accumulated depreciation 2020 2019 $89,300 $47,650 92,000 37,200 124,900 104,650 87,300 110,000 286,000 211,000 (49,300) (40,000) $630,200 $470,500 Accounts payable $53,100 $48,480 Accrued liabilities 12,300 19,230 Notes payable 132,000 72,000 Common shares 250,000 203,000 Retained earnings 182,800 127,790 $630,200 $470,500 Statement of Income, year ended December 31, 2020 Revenues Sales revenue Gain on disposal of investment in land Gain on disposal of equipment $291,000 5,000 8,970 304,970 Expenses Cost of goods sold $98,460 Depreciation expense 58,300 Operating expenses 14,720 Income tax expense 39,000 Interest expense 2,810 213,290 Net income $91,680 Additional information: 1. Investments in land were sold at a gain during 2020. 2. Equipment costing $57,400 was sold for $17,370, 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. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis e.g. (15,000).) BLUE ROAD INC. Statement of Cash Flows - Direct Method Year Ended December 31, 2020 Cash Flows from Operating Activities Cash Collections from Customers Cash Payments to Suppliers Cash Payments for Operating Expenses Cash Payments for Income Taxes Cash Payments for Interest > > > > > > Net Cash Provided by Operating Activities