The following summary transactions occurred during 2024 for Bluebonnet Bakers:

Cash Received from:
Collections from customers	$ 380,000
Interest on notes receivable	6,000
Collection of notes receivable	50,000
Sale of investments	30,000
Issuance of notes payable	100,000
Cash Paid for:
Purchase of inventory	160,000
Interest on notes payable	5,000
Purchase of equipment	85,000
Salaries to employees	90,000
Payment of notes payable	25,000
Dividends to shareholders	20,000

The balance of cash and cash equivalents at the beginning of 2024 was $17,000.

Required:

Prepare the statement of cash flows assuming that Bluebonnet prepares its financial statements according to International Financial Reporting Standards. Where IFRS allows flexibility, use the classification used most often in IFRS financial statements.

Note: Amounts to be deducted should be indicated with a minus sign.

The balance of cash and cash equivalents at the beginning of 2024 was $17,000. Required: Prepare the statement of cash flows assuming that Bluebonnet prepares its financial statements according to International Financial Reporting Standards. Where IFRS allows flexibility, use the classification used most often in IFRS financial statements. Note: Amounts to be deducted should be indicated with a minus sign. The balance of cash and cash equivalents at the beginning of 2024 was $17,000. Required: Prepare the statement of cash flows assuming that Bluebonnet prepares its financial statements according to International Financial Reporting Standards. Where IFRS allows flexibility, use the classification used most often in IFRS financial statements. Note: Amounts to be deducted should be indicated with a minus sign