The following data relate to Emporium Ltd: Emporium Ltd Income statement for year ended 30 June 2020 Income Sales revenue $1,245,000 Expenses Cost of sales $720,000 Depreciation - machinery 30,000 Depreciation buildings 18,000 Other expenses 335,500 1,103,500 Profit $141,500 Emporium Ltd Comparative statements of financial position as at 30 June 2019 2020 Assets Cash at bank $57,000 $56,000 Accounts receivable 145,000 134,000 Inventory 112,000 152,000 Investments 19,000 23,000 Machinery (net) 220,000 295,000 Buildings (net) 120,000 207,000 Land 63,500 147,500 $736,500 $1,014,500 Liabilities and equity Accounts payable $45,700 $60,700 Expenses payable 6,300 2,800 Mortgage payable 135,000 223,000 Share capital 375,000 453,000 Retained earnings 174,500 275,000 $736,500 $1,014,500 Additional information a) Dividends were paid during the year. b) The increases in investments and machinery were from cash purchases. c) The increases in land and buildings were from purchases but were partly funded by an increase in the mortgage with the bank. d) Share capital was issued during the year for cash. Prepare the statement of cash flows for Emporium Ltd for the year ended 30 June 2020, using the direct method. -15,000, or parentheses, e.g. (15,000).) Emporium Ltd Statement of cash flows for the year ended 30 June 2020 Cash flows from operating activities Purchase of investments 1256000 Cash paid to suppliers and employees (745000) X Cash generated from operations (339000) Net cash flows from operating activities 172000 Cash flows from investing activities Purchase of investments (4000) Purchase of property, plant and equipment (206000) Net cash flows from investing activities (210000) Cash flows from financing activities Proceeds from issue of share capital 78000 Dividends paid (41000) Net cash flows from financing activities 37000 Net decrease in cash and cash equivalents (1000) Cash and cash equivalents at beginning of year 57000 Cash and cash equivalents at end of year 56000 Prepare the note reconciling cash flows from operating activities to profit. (Show amounts (15,000).) Reconciliation of net cash from operating activities to profit $