The statement of financial position and statement of comprehensive income for the current year (Year 2) for Oakie Ltd. are as follows: Oakie Ltd. Statement of financial position As at December 31 Year 2 Year 1 Cash and cash equivalents $62,000 $30,000 Accounts receivable 53,000 57,000 Inventory 70,000 65,000 Property, plant, and equipment 100,000 150,000 Accumulated depreciation (52,000) (70.000) $233,000 $232,000 Accounts payable Interest payable Dividends payable Long-term notes payable Common shares Retained earnings $60,000 $56,000 1,000 5,000 2,000 30,000 50,000 100,000 100,000 40.000 21,000 $233,000 $232.000 Oakie Ltd. Statement of comprehensive income Year ended December 31, Year 2 Sales Cost of goods sold Gross profit Salaries expense Depreciation expense Interest expense Loss on sale of property, plant, and equipment Net income $250,000 160,000 90,000 31,000 17,000 7,000 6,000 $29,000 Additional information: Property, plant, and equipment with a net book value of $15,000 was sold on January 1, Year 2. All accounts payable relate to purchases of inventory. Oakie elects to classify interest paid as an operating activity and dividends paid as a financing activity. Required: Prepare Oakie's statement of cash flows for the year ended December 31, Year 2, using the direct method. Assume that Oakie follows IFRS for reporting purposes.