SFP accounts of Crane Inc., which follows IFRS, follow: CRANE INC. Comparative Statement of Financial Position Accounts December 31, 2020 and 2019 December 31 Debit accounts 2020 2019 Cash $44,780 $33,700 FV-NI investments 23,190 40,450 Accounts receivable 67,690 60,100 Merchandise inver 30,200 24,300 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 depreciation-machinery 5,810 2,450 Accumulated depreciation-buildings 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 payable-non-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. FV-Nl 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. 3. 4. Machinery that cost $3,770 and had $750 of depreciation accumulated was sold for $2,240. Crane's 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 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).) CRANE INC. Statement of Cash Flow For the Year Ended December 31, 2020 V Cash Flows from Operating Activities Cash Received from Customers 647,940 Add : Net cash received on FV-Nl investment transactions Less Cash Paid to Suppliers for Goods $ 395,140 Cash Paid for Other Operating Expenses 164,950 Cash Paid for Interest BAC 3,000 Income Taxes Paid 36,500 599,590 Net Cash Provided by Operating Activities $