SFP accounts ofBlossomInc., which follows IFRS, follow:

BLOSSOMINC.

Comparative Statement of Financial Position Accounts

December 31, 2020 and 2019

December 31Debit accounts20202019Cash$44,775$33,250FV-NI investments

22,85040,000Accounts receivable66,90059,500Merchandise inventory29,40023,500Machinery29,40018,250Buildings66,90055,750Land7,5007,500$267,725$237,750Credit accountsAllowance for doubtful accounts$1,900$1,150Accumulated depreciationmachinery5,3502,000Accumulated depreciationbuildings12,9908,500Accounts payable29,49024,250Accrued liabilities2,2401,000Income taxes payable8501,350Long-term note payablenon-trade25,00030,000Common shares150,000125,000Retained earnings39,905

44,500$267,725$237,750

Additional information:

BlossomInc. 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 $17,395.

2.A20% stock dividend was declared during the year and $25,000of retained earnings was capitalized.

3.FV-NI investments that cost $19,500and had a fair value at December 31, 2019, of $24,000were sold during the year for $22,650.

4.Machinery that cost $3,750and had $750of depreciation accumulated was sold for $2,150.

Blossom's 2020 statement of income is as follows:

Sales revenue

$635,000Cost of goods sold375,000Gross margin260,000Operating expenses (includes $8,590

depreciation and $5,400bad debts)180,000Income from operations80,000Loss on disposal of FV-NI investments

$(1,350)Interest expense(3,000)Loss on disposal of machinery

(850)(5,200)Income before tax74,800Income tax expense37,000Net income$37,800

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).)