Knutsford Corporation follows IFRS. Financial statements and notes for Knutsford Corporation are below:

Knutsford Corporation
Statement of Financial Position
December 31, Year 8
	Year 8	Year 7
Cash	$ 25,400	$ 0
Accounts receivable	13.500	16.950
FVNI investments	20,000	30,000
Inventory	42,000	35,000
Prepaid rent	7,000	12,000
Prepaid insurance	2,100	900
Supplies	1,000	750
Land	125,000	175,000
Buildings	350,000	350,000
Accumulated depreciation, buildings	(105,000)	(87,500)
Equipment	525,000	400,000
Accumulated depreciation, equipment	(130,000)	(112,000)
Patents	90,000	90,000
Accumulated amortization, patents	(45,000)	(40,000)
	$ 921,000	$ 871,100
Short-term bank overdraft	$ 0	$ 12,000
Accounts payable	22,000	20,000
Income tax payable	5,000	6,000
Salaries and wages payable	5,000	1,000
Short term note payable	10,000	10,000
Notes payable (long term)	60,000	70,000
Deferred tax liability	30,000	25,000
Bonds payable	375,000	375,000
Common shares	260,000	237,500
Retained earnings	154,000	114,600
Total liabilities and shareholders equity	$ 921,000	$ 871,100
Knutsford Corporation
Income Statement
Year Ended December 31, Year 8
Revenues
Sales revenue		$ 1,160,000
Cost of goods sold		748,000
Gross profit		412,000
Operating expenses
Selling expenses	$ 39,200
Administrative expenses	124,700
Salaries expense	92,000
Depreciation and amortization expense	40,500	296,400
Income from operations		115,600
Other revenues and expenses
Gain on sale of land	8,000
Investment income **	6,400
Interest expense	41,750	27,350
Income before income tax		88,250
Income tax expense		29,400
Net income		$ 58,850
** Investment income from FVNI investments represents dividends of $2,400 and a gain on sale of $4,000.

Required

Complete the following with the details provided.

Prepare a statement of cash flows from investing activity along with the detailed calculation of all the investments.

Prepare the operating activities section of the statement of cash flows for Year 8 using the indirect method