QUESTION 15 Question 5 (9 marks) The net changes in the statement of financial position accounts of Brown Derby Corp. for calendar 2020 are shown below. Brown Derby adheres to IFRS. Account Cash. Increased $ 92.000 Long term FV-NI investments. Decreased 121,000 Accounts receivable. Increased 73,200 Allowance for doubtful accounts. Increased 13,300 Inventory Increased 74.200 Prepaid expenses. Decreased 22,800 short-term investment (100% owned subsidiary). decreased 20.000 Plant and equipment. increased 235,000 Accumulated depreciation. Increased 155,000 Accounts payable. Decreased 80.700 Accrued liabilities Increased 16,500 Deferred tax liability... Decreased 15,500 Long-term bonds. Increased 80,000 Common shares. Increased 240,000 Retained earnings. Decreased 98,000 Other information regarding the corporation's 2020 year: An analysis of the Retained Earnings account shows: Retained earnings, December 31, 2019. $ 1,300,000 Net income for the year ended Dec 31, 2020 287,000 Retained earnings, December 31, 2020 $ 1,202,000 1 On January 2, 2020, FV-NI investments costing $ 121,000 were sold for $ 150,000. 2 The company declare and paid cash dividend on February 1, 2020 3. The company declare and distributed stock dividend on August 1, 2020 amount of $240,000 was debited to RE 4. Major repairs of $ 25,000 to the equipment were debited to the plant and Equipment account during the year, repairs paid by cash. 5. At January 1, 2020, the cash balance was $ 136,000. 6. Long-term bonds were issued at par. Instructions Using proper cash flow format, prepare a statement of cash flows using the direct method for calendar 2020. Assuming the net cash flow from operating activities is $242,000 and it is calculated correctly