SFP accounts of Blossom Inc., which follows IFRS, follow:

BLOSSOM INC. Comparative Statement of Financial Position Accounts December 31, 2020 and 2019
		December 31
Debit accounts		2020			2019
Cash		$44,785			$33,400
FV-NI investments		23,030			40,300
Accounts receivable		67,940			60,500
Merchandise inventory		29,810			23,850
Machinery		29,450			18,250
Buildings		67,140			55,850
Land		7,500			7,500
		$269,655			$239,650
Credit accounts
Allowance for doubtful accounts		$1,080			$330
Accumulated depreciationmachinery		5,595			2,230
Accumulated depreciationbuildings		13,505			9,000
Accounts payable		29,495			24,250
Accrued liabilities		2,425			1,180
Income taxes payable		850			1,350
Long-term note payablenon-trade		26,600			31,600
Common shares		150,000			125,000
Retained earnings		40,105			44,710
		$269,655			$239,650

Additional information: Blossom Inc. has adopted the policy of classifying interest paid as operating activities and dividends paid as financing activities.

1.		Cash dividends declared during the year were $17,515.
2.		A 20% stock dividend was declared during the year and $25,000 of retained earnings was capitalized.
3.		FV-NI investments that cost $20,100 and had a fair value at December 31, 2019, of $24,700 were sold during the year for $22,990.
4.		Machinery that cost $3,840 and had $750 of depreciation accumulated was sold for $2,210.

Blossoms 2020 statement of income is as follows:

Sales revenue						$643,000
Cost of goods sold						382,000
Gross margin						261,000
Operating expenses (includes $8,620 depreciation and $5,400 bad debts)						180,500
Income from operations						80,500
Loss on disposal of FV-NI investments			$(1,710	)
Interest expense			(3,000	)
Loss on disposal of machinery			(880	)		(5,590	)
Income before tax						74,910
Income tax expense						37,000
Net income						$37,910

Calculate net cash flow from operating activities 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).)

BLOSSOM INC. Statement of Cash Flow December 31, 2020For the Year Ended December 31, 2020For the Month Ended December 31, 2020
Cash, December 31, 2020Net Cash Used by Investing ActivitiesNet Decrease in CashCash Flows from Investing ActivitiesCash, January 1, 2020Net Increase in CashNet Cash Used by Financing ActivitiesNet Cash Used by Operating ActivitiesCash Flows from Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Provided by Financing ActivitiesCash Flows from Operating Activities
Cash Paid for InterestCash Received from CustomersNet cash received on FV-NI investment transactionsCash Paid for Other Operating ExpensesCash Paid to Suppliers for GoodsIncome Taxes Paid				$
LessAdd: Income Taxes PaidCash Paid to Suppliers for GoodsCash Received from CustomersCash Paid for Other Operating ExpensesCash Paid for InterestNet cash received on FV-NI investment transactions
AddLess:
Income Taxes PaidCash Paid for Other Operating ExpensesNet cash received on FV-NI investment transactionsCash Received from CustomersCash Paid to Suppliers for GoodsCash Paid for Interest		$
Cash Paid for Other Operating ExpensesNet cash received on FV-NI investment transactionsIncome Taxes PaidCash Received from CustomersCash Paid for InterestCash Paid to Suppliers for Goods
Cash Paid for InterestNet cash received on FV-NI investment transactionsCash Received from CustomersCash Paid for Other Operating ExpensesCash Paid to Suppliers for GoodsIncome Taxes Paid
Cash Paid for InterestCash Received from CustomersNet cash received on FV-NI investment transactionsCash Paid for Other Operating ExpensesIncome Taxes PaidCash Paid to Suppliers for Goods
Cash Flows from Investing ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Used by Financing ActivitiesCash, January 1, 2020Net Cash Provided by Investing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Decrease in CashNet Cash Used by Operating ActivitiesCash, December 31, 2020Cash Flows from Operating ActivitiesNet Increase in CashCash Flows from Financing Activities				$

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