Bracewell Ltd. reported net income of £195,000 for 2020. Bracewell also reported depreciation expense of £40,000 and a gain of £5,000 on disposal of plant assets. The comparative statements of financial position show an increase in accounts receivable of £15,000 for the year, a £17,000 increase in accounts payable, and a £4,000 decrease in prepaid expenses.

Instructions
Prepare the operating activities section of the statement of cash flows for 2020. Use the indirect method.