The statement of cash flows for the year ended December 31, 2013, for Bronco Metals is presented below. Bronco Metals prepares its financial statements according to U.S. GAAP. E 4-18 IFRS versus U.S. GAAP; statement of cash flows LO9LO10 BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2013 Cash flows from operating activities: Collections from customers $ 353,000 Interest on note receivable 4,000 Dividends received from investments 2,400 Purchase of inventory (186,000) Payment of operating expenses (67,000) Payment of interest on note payable (8,000) Net cash flows from operating activities $ 98,400 Cash flows from investing activities: Collection of note receivable 100,000 Purchase of equipment (154,000) Net cash flows from investing activities (54,000) Cash flows from financing activities: Proceeds from issuance of ordinary shares 200,000 Dividends paid (40,000) Net cash flows from financing activities 160,000 Net increase in cash 204,400 Cash and cash equivalents, January 1 28,600 Cash and cash equivalents, December 31 $233,000 Required: Prepare the statement of cash flows assuming that Bronco prepares its financial statements according to IFRS and classifies dividends and interest received as investing cash flows and dividends and interest paid as financing cash flows