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Comparative balance sheets for 2021 and 2020 and a statement of Income for 2021 are given below for Metagrobolize Industries. Additional Information from the accounting records of Metagrobolize also is provided. METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2020 2021 Assets Cash 190 980 Accounts receivable Inventory Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Patent $ 390 $ 450 240 600 375 600 560 900 (380) (285) 2,750 2,450 (430) (480) 1,500 1,650 $ 6,468 $ 5,688 $ $ 788 288 130 550 175 Liabilities Accounts payable Accrued liabilities Lease liability-land Shareholders' Equity Connon stock Paid-in capital-excess of par Retained earnings 3,118 550 1,770 $ 6,460 3,eee 485 1,47 $ 5,680 $ 2,820 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $ 2,765 Gain on sale of land 55 Expenses Cost of goods sold 900 Depreciation expense-building 15 Depreciation expense-equipment 300 Loss on sale of equipment 10 Amortization of patent 150 Operating expenses 550 Net income 1,925 895 $ Additional Information from the accounting records: Additional Information from the accounting records: a. Annual payments of $20.000 on the finance lease liability are paid each January 1, beginning in 2021. b. During 2021, equipment with a cost of $300,000 (90% depreciated was sold. c. The statement of shareholders' equity reveals reductions of $175.000 and $420,000 for stock dividends and cash dividends. respectively. Required: Prepare the statement of cash flows for Metagrobolize Industries using the indirect method. (Enter your answers in thousands (Le.. 10,000 should be entered as 10).) Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows For year ended December 31, 2021 ($ in 000s) Cash flows from operating activities: Net income Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities

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