SFP accounts of Oriole Inc., which follows IFRS, follow: ORIOLE INC. Comparative Statement of Financial Position Accounts December 31, 2020 and 2019 December 31 Debit accounts 2020 2019 Cash $44,945 $33,350 Accounts receivable 67,080 59,550 Merchandise inventory 30,220 24,300 Long-term FV-NI investments 22,910 40,250 Machinery 29,600 18,450 Buildings 67,220 56,050 Land 7,500 7,500 $269,475 $239,450 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 $1,780 5,815 13,405 30,000 2,265 900 25,400 150,000 39,910 $269,475 $1,030 2,440 8,900 24,750 1,020 1,400 30,400 125,000 44,510 $239,450 Additional information: Oriole 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 $9,280. 2. A 20% stock dividend was declared during the year and $25,000 of retained earnings was capitalized. 3. FV-NI investments that cost $19,600 and had a fair value at December 31, 2019, of $24,700 were sold during the year for $22,840. 4. Machinery that cost $3,780 and had $750 of depreciation accumulated was sold for $2,170. Oriole's 2020 statement of income is as follows: $638,000 385,000 253,000 180,600 72,400 Sales revenue Cost of goods sold Gross margin Operating expenses (includes $8,630 depreciation and $5,400 bad debts) Income from operations Loss on disposal of FV-NI investments $(1,860) Interest expense (3,000) Loss on disposal of machinery (860) Income before tax Income tax expense Net income (5,720) 66,680 37,000 $29,680 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).) ORIOLE INC. Statement of Cash Flow For the Year Ended December 31, 2020 Cash Flows from Operating Activities V Cash Received from Customers Add Less