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 $45,095 $33,950 Accounts receivable 67,340 59,800 Merchandise inventory 24,150 Long-term FV-NI investments 23,350 40,500 Machinery 30,180 18,850 Buildings 67,970 56,750 Land 7,500 7,500 $271,535 $241,500 30,100 Credit accounts Allowance for doubtful accounts Accumulated depreciation-machinery Accumulated depreciation-buildings Accounts payable Accrued liabilities Income taxes payable Long-term note payable-non-trade Common shares Retained earnings $1,120 5,605 13,940 30,360 2,445 920 27,000 150,000 40,145 $271,535 $370 2,230 9,450 25,100 1,190 1,420 32,000 125,000 44,740 $241,500 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 $17,995. 2. A 20% stock dividend was declared during the year and $25,000 of retained earnings was capitalized. 3. FV-NI investments that cost $19,900 and had a fair value at December 31, 2019, of $24,750 were sold during the year for $23,080. 4. Machinery that cost $3,780 and had $750 of depreciation accumulated was sold for $2,200. Crane's 2020 statement of income is as follows: $639,000 378,000 261,000 180,100 80,900 Sales revenue Cost of goods sold Gross margin Operating expenses (includes $8,615 depreciation and $5,400 bad debts) Income from operations Loss on disposal of FV-NI investments $(1,670) Interest expense (3,000) Loss on disposal of machinery (830) Income before tax Income tax expense Net income (5,500) 75,400 37,000 $38,400 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).) 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 $ LINK TO TEXT LINK TO TEXT