16 Problem 21-17 Statement of cash flows; indirect method L021-4, 218] 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 providesd METAGROBOLZE INDUSTRIES Comparative Balance Sheets December 31, 2018 and 2017 (s in 000s) Bock Print References Assets Cash Accounts receivable Inventory Land Building 400 170 230 580370 545 900 430 550 900 Less: Accumulated depreciation0)(210) Equipment 2,780 2,390 Less: Accumulated depreciation(409) (380) Patent -1,400' -1,500 56,301 $5.515 Liabilities Accounts payable $ 680 480 Liabilities Accounts payable Accrued expenses payable Lease liability-land Shareholders Equity Common stock Paid-in capital-excess of par Retained earnings s 680 480 190 115 136 3,160 3,000 eBook Ask Print References 490 1,641 1,430 $6,301 $5,515 500 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2018 (s in e00s) Revenues Sales revenue Gain on sale of land $2,608 50 $2,658 Expenses Cost of goods sold Depreciation expense-building Depreciation expense-equipment $ 880 40 272 $2,608 Sales revenue Gain on sale of land 50 $2,658 Expenses Cost of goods sold Depreciation expense building Depreciation expense equipment Loss on sale of equipment Amortization of patent Operating expenses 880 4e 272 10 100 eBook Ask Print References 550 1,852 806 Net income Additional information from the accounting records a. Annual payments of $20,000 on the finance lease lability are paid each January 1, beginning in 2018 b During 2018, equipment with a cost of S2 70,000(90% depreciated) was sold hatment of shareholders' equity reveals reductions of $170,000 and $425,000 for stock dividends and cash dividends, respectively Required Prepare the statement of cash flows for Metagrobolize Industries using the indirect method. (Enter your answers in thousands. (e 10,000 should be entered as 10).) Amounts to be deducted should be indicated with a minus sign.) (Enter your answers in thousands. (ie Prev 16 of 16E Noxt 10,000 should be entered as d).) Amounts to be deducted should be indicated with a minus sign.) METAGROBOLIZE NDUSTR Statement of Cash Flows For year ended December 31, 2018 ($ in 000s) eBook Ask Print References Adjustments for noncash effects Changes in operating assets and labilities 16 Chanages in operating assets and iabinites eBook Ask Pnnt References Prev16 of 16Next 16 eBook Ask Print References Noncash investing and tinancing activities