The statement of cash flows for the year ended December 31, 2018, for Bronco Metals is presented below. $131,200 BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities Collections from customers $ 393,000 Interest on note receivable 4,800 Dividends received from investments 3,200 Purchase of inventory (194,000) Payment of operating expenses (67,000) Payment of interest on note payable (8,800) Net cash flows from operating activities Cash flows from investing activities: Collection of note receivable 140,000 Purchase of equipment (234,000) Net cash flows from investing activities Cash flows from financing activities Proceeds from issuance of common stock 280,000 Dividends paid (48,000) Net cash flows from financing activities Net increase in cash Cash and cash equivalents, January 1 Cash and cash equivalents, December 31 (94,000) 232,000 269,200 28.800 $298,000 Required: Prepare the statement of cash flows assuming that Bronco prepares its financial statements according to International Financial Reporting Standards. Where IFRS allows flexibility, use the classification used most often in IFRS financial statements. (Amounts to be deducted should be indicated with a minus sign.)