1. SFP accounts of Crane Inc., which follows IFRS, follow:

CRANE INC.
Comparative Statement of Financial Position Accounts
December 31, 2020 and 2019
	31-Dec
Debit accounts	2020		2019
Cash	$44,780		$33,700
Accounts receivable	67,690		60,100
Merchandise inventory	30,200		24,300
Long-term FV-NI investments	23,190		40,450
Machinery	30,230		18,900
Buildings	67,100		55,750
Land	7,500		7,500
	$270,690		$240,700

Credit accounts
Allowance for doubtful accounts	$2,225		$1,475
Accumulated depreciationmachinery	5,810		2,450
Accumulated depreciationbuildings	13,495		9,000
Accounts payable	29,690		24,450
Accrued liabilities	2,385		1,140
Income taxes payable	980		1,480
Long-term note payablenon-trade	26,200		31,200
Common shares	150,000		125,000
Retained earnings	39,905		44,505
	$270,690		$240,700

Additional information: Crane 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 $18,820.
2.		A 20% stock dividend was declared during the year and $25,000 of retained earnings was capitalized.
3.		FV-NI investments that cost $20,400 and had a fair value at December 31, 2019, of $24,300 were sold during the year for $23,500.
4.		Machinery that cost $3,770 and had $750 of depreciation accumulated was sold for $2,240.

Cranes 2020 statement of income is as follows:

Sales revenue		$645,000
Cost of goods sold		384,000
Gross margin		261,000
Operating expenses (includes $8,605 depreciation and $5,400 bad debts)		180,200
Income from operations		80,800
Loss on disposal of FV-NI investments	$(800)
Interest expense	(3,000)
Loss on disposal of machinery	(780)	(4,580)
Income before tax		76,220
Income tax expense		37,000
Net income		$39,220

Prepare a statement of cash flows using the indirect method.