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

PHAROAH INC. Comparative Statement of Financial Position Accounts December 31, 2020 and 2019
		December 31
Debit accounts		2020			2019
Cash		$44,875			$33,550
Accounts receivable		67,350			59,850
Merchandise inventory		30,220			24,300
Long-term FV-NI investments		22,840			40,050
Machinery		29,590			18,350
Buildings		67,160			55,950
Land		7,500			7,500
		$269,535			$239,550

Credit accounts
Allowance for doubtful accounts		$1,630			$880
Accumulated depreciationmachinery		5,765			2,410
Accumulated depreciationbuildings		13,095			8,600
Accounts payable		30,340			25,100
Accrued liabilities		2,305			1,050
Income taxes payable		960			1,460
Long-term note payablenon-trade		26,500			31,500
Common shares		150,000			125,000
Retained earnings		38,940			43,550
		$269,535			$239,550

Additional information: Pharoah 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 $16,210.
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 $24,350 were sold during the year for $23,320.
4.		Machinery that cost $3,770 and had $750 of depreciation accumulated was sold for $2,150.

Pharoahs 2020 statement of income is as follows:

Sales revenue						$642,000
Cost of goods sold						383,000
Gross margin						259,000
Operating expenses (includes $8,600 depreciation and $5,400 bad debts)						180,500
Income from operations						78,500
Loss on disposal of FV-NI investments			$(1,030	)
Interest expense			(3,000	)
Loss on disposal of machinery			(870	)		(4,900	)
Income before tax						73,600
Income tax expense						37,000
Net income						$36,600

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).)

PHAROAH INC. Statement of Cash Flow