13 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. points METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) 2018 2017 eBook Print References Assets Cash Accounts receivable Inventory Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Patent 450 490 640 650 800 (250) 2,850 (472) 1,700 $ 6,858 160 260 385 590 800 (230) 2,570 (440) 1,950 $ 6,045 $ 740 $ 440 220 155 1300 Liabilities Accounts payable Accrued expenses payable Lease liability-land Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 2,600 600 2,568 $ 6,858 2,500 515 2,435 $ 6,045 METACROBOLIZE INDUSTRIES Income Statement points METACROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2018 ($ in 000s) Revenues Sales revenue $ 2,839 Gain on sale of land 65 $ 2,904 Expenses Cost of goods sold 940 Depreciation expense-building Depreciation expense-equipment Loss on sale of equipment Amortization of patent 250 Operating expenses $ 600 2,176 Net income S 728 eBook 20 356 10 Print References Additional information from the accounting records: a. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2018. b. During 2018, equipment with a cost of $360,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $185,000 and $410,000 for stock dividends and cash dividends, respectively. Required: Prepare the statement of cash flows for Metagrobolize Industries using the indirect method. (Enter your answers in thousands. (i.e., 10,000 should be entered as 10).) Amounts to be deducted should be indicated with a minus sign.) METAGROBOLIZE INDUSTRIES Statement of Cash Flows For vear ended December 31, 2018 10 METAGROBOLIZE INDUSTRIES Statement of Cash Flows For year ended December 31, 2018 ($ in 000s) Cash flows from operating activities: Net income Adjustments for noncash effects: points eBook Print References Changes in operating assets and liabilities: Changes in operating assets and liabilities: points eBook Print References 10 points eBook Print References Noncash investing and financing activities