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Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.

METAGROBOLIZE INDUSTRIES

Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s)

2018 2017

Assets

Cash $ 390 $ 190

Accounts receivable 450 240

Inventory 600 375

Land 600 560

Building 900 900

Less: Accumulated depreciation (300 ) (285 )

Equipment 2,750 2,450

Less: Accumulated depreciation (430 ) (400 )

Patent 1,500 1,650

$ 6,460 $ 5,680

Liabilities

Accounts payable $ 700 $ 550

Accrued expenses payable 200 175

Lease liabilityland 130 0

Shareholders' Equity

Common stock 3,110 3,000

Paid-in capitalexcess of par 550 485

Retained earnings 1,770 1,470

$ 6,460 $ 5,680

METAGROBOLIZE INDUSTRIES I

ncome Statement For the Year Ended December 31, 2018 ($ in 000s)

Revenues

Sales revenue $ 2,765

Gain on sale of land 55

$ 2,820

Expenses

Cost of goods sold $ 900

Depreciation expensebuilding 15

Depreciation expenseequipment 300

Loss on sale of equipment 10

Amortization of patent 150

Operating expenses $ 550 1,925

Net income $ 895

Additional information from the accounting records:

Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2018.

During 2018, equipment with a cost of $300,000 (90% depreciated) was sold.

The statement of shareholders equity reveals reductions of $175,000 and $420,000 for stock dividends and cash dividends, respectively.

Required: Prepare the statement of cash flows for Metagrobolize Industries using the indirect method. (Enter your answers in thousands. (i.e., 10,000 should be entered as 10).) Amounts to be deducted should be indicated with a minus sign.)

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