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

SANDHILL INC. Comparative Statement of Financial Position Accounts December 31, 2020 and 2019
		December 31
Debit accounts		2020			2019
Cash		$44,900			$33,400
Accounts receivable		67,390			59,900
Merchandise inventory		30,430			24,400
Long-term FV-NI investments		22,660			40,000
Machinery		29,400			18,250
Buildings		67,420			56,250
Land		7,500			7,500
		$269,700			$239,700
Credit accounts
Allowance for doubtful accounts		$1,290			$540
Accumulated depreciationmachinery		5,795			2,420
Accumulated depreciationbuildings		13,350			8,850
Accounts payable		29,590			24,350
Accrued liabilities		2,405			1,160
Income taxes payable		910			1,410
Long-term note payablenon-trade		26,300			31,300
Common shares		150,000			125,000
Retained earnings		40,060			44,670
		$269,700			$239,700

Additional information: Sandhill 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 $10,460.
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 $25,300 were sold during the year for $23,200.
4.		Machinery that cost $3,790 and had $750 of depreciation accumulated was sold for $2,190.

Sandhills 2020 statement of income is as follows:

Sales revenue						$636,000
Cost of goods sold						382,000
Gross margin						254,000
Operating expenses (includes $8,625 depreciation and $5,400 bad debts)						180,200
Income from operations						73,800
Loss on disposal of FV-NI investments			$(2,100	)
Interest expense			(3,000	)
Loss on disposal of machinery			(850	)		(5,950	)
Income before tax						67,850
Income tax expense						37,000
Net income						$30,850

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).)

SANDHILL INC. Statement of Cash Flow December 31, 2020For the Month Ended December 31, 2020For the Year Ended December 31, 2020
Net Cash Provided by Operating ActivitiesCash, January 1, 2020Net Cash Used by Operating ActivitiesCash, December 31, 2020Cash Flows from Operating ActivitiesCash Flows from Financing ActivitiesNet Cash Used by Investing ActivitiesNet Increase in CashNet Cash Used by Financing ActivitiesNet Decrease in CashCash Flows from Investing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Financing Activities
Cash Paid to Suppliers for GoodsCash Paid for InterestCash Received from CustomersIncome Taxes PaidProceeds from Sale of FV-NI InvestmentsCash Paid for Other Operating Expenses				$
LessAdd: Cash Received from CustomersCash Paid for Other Operating ExpensesProceeds from Sale of FV-NI InvestmentsCash Paid to Suppliers for GoodsIncome Taxes PaidCash Paid for Interest
AddLess:
Income Taxes PaidCash Received from CustomersCash Paid for InterestProceeds from Sale of FV-NI InvestmentsCash Paid for Other Operating ExpensesCash Paid to Suppliers for Goods		$
Income Taxes PaidProceeds from Sale of FV-NI InvestmentsCash Received from CustomersCash Paid for Other Operating ExpensesCash Paid to Suppliers for GoodsCash Paid for Interest
Income Taxes PaidCash Paid for InterestCash Paid to Suppliers for GoodsCash Received from CustomersProceeds from Sale of FV-NI InvestmentsCash Paid for Other Operating Expenses
Cash Paid to Suppliers for GoodsIncome Taxes PaidCash Received from CustomersProceeds from Sale of FV-NI InvestmentsCash Paid for InterestCash Paid for Other Operating Expenses
Cash, December 31, 2020Cash Flows from Operating ActivitiesNet Cash Used by Operating ActivitiesNet Cash Provided by Financing ActivitiesCash Flows from Financing ActivitiesNet Decrease in CashCash Flows from Investing ActivitiesNet Increase in CashCash, January 1, 2020Net Cash Provided by Operating ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Financing Activities				$