The following is a list of items to be included in Estes Company’s 2019 statement of cash flows:
a. Payments to suppliers, $31,500
b. Other operating receipts, $1,200
c. Payments of dividends, $4,000
d. Payments of income taxes, $5,000
e. Collections from customers, $68,400
f. Payment for purchase of equipment, $18,500
g. Payments to employees, $19,300
h. Interest and dividends collected, $7,100
i. Other operating payments, $900
j. Proceeds from issuance of bonds, $11,300
k. Payments of interest, $8,400
l. Proceeds from sale of investments, $6,000
m. Beginning cash balance, $28,400

Required:
1. Prepare the statement of cash flows using the direct method for operating cash flows.
2. Next Level Under IFRS, which items may be classified differently than under U.S. GAAP?