Information from the statement of financial position and statement of income is given below for Monty Road Inc., a company following IFRS, for the year ended December 31. Monty 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 2020 2019 Cash $78,700 $47,850 Accounts receivable 91,800 37,300 Inventory 126,800 105,650 Investments in land 93,800 117,000 Property, plant, and equipment 294,000 213.000 Accumulated depreciation (48,800) (40,000) $636,300 $480.800 Accounts payable $53,700 $48,580 Accrued liabilities 12,000 19,430 Notes payable 139,000 73.000 Common shares 245,000 210,000 Common shares 245,000 210,000 Retained earnings 186,600 129,790 $636,300 $480,800 Statement of Income, year ended December 31, 2020 Revenues Sales revenue $291,000 Gain on disposal of investment in land 5,000 Gain on disposal of equipment 8,950 304,950 Expenses Cost of goods sold $98,260 Depreciation expense 58,700 Operating expenses 14.770 Income tax expense 37,700 Interest expense 2,940 212.370 Net income $92.580 Additional information: 1. Investments in land were sold at a gain during 2020. 2. Equipment costing $57,000 was sold for $16,050, 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 e.g.-15,000 or in parenthesis e.g. (15,000).) MONTY ROAD INC. Statement of Cash Flows - Direct Method Year Ended December 31, 2020 Cash Flows from Operating Activities Cash Collections from Customers $ 92580 $