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The comparative balance sheets for 2016 and 2015 and the statement of income for 2016 are given below for Wright Company. Additional information from Wright's accounting records is provided also.

WRIGHT COMPANY Comparative Balance Sheets December 31, 2016 and 2015 ($ in 000s)
	2016		2015
Assets
Cash	$	102	$	65
Accounts receivable		106		110
Short-term investment		49		22
Inventory		109		105
Land		78		95
Buildings and equipment		600		470
Less: Accumulated depreciation		(157)		(110)
	$	887	$	757
Liabilities
Accounts payable	$	36	$	42
Salaries payable		4		7
Interest payable		8		5
Income tax payable		5		10
Notes payable		0		26
Bonds payable		222		170
Shareholders' Equity
Common stock		340		270
Paid-in capitalexcess of par		155		135
Retained earnings		117		92
	$	887	$	757

WRIGHT COMPANY Income Statement For Year Ended December 31, 2016 ($ in 000s)
Revenues:
Sales revenue			$	450
Expenses:
Cost of goods sold	$	200
Salaries expense		50
Depreciation expense		47
Interest expense		16
Loss on sale of land		5
Income tax expense		62		380
Net income			$	70

Additional information from the accounting records:
a.	Land that originally cost $17,000 was sold for $12,000.
b.	The common stock of Microsoft Corporation was purchased for $27,000 as a short-term investment not classified as a cash equivalent.
c.	New equipment was purchased for $130,000 cash.
d.	A $26,000 note was paid at maturity on January 1.
e.	On January 1, 2016, bonds were sold at their $52,000 face value.
f.	Common stock ($70,000 par) was sold for $90,000.
g.	Net income was $70,000 and cash dividends of $45,000 were paid to shareholders.

Required:

Prepare the statement of cash flows of Wright Company for the year ended December 31, 2016. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 5,000 should be entered as 5).)

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