2017 METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2018 and 2017 ($ in 0003) 2018 Assets Cash 390 Accounts receivable 370 Inventory 520 Land 525 Building 900 Less: Accumulated depreciation (250) Equipment 2,550 Less: Accumulated depreciation (346) Patent 1,100 $5,759 $ 170 200 355 500 900 (225) 2,210 (320) 1,300 $5,090 $ $ 620 160 130 470 130 Liabilities Accounts payable Accrued expenses payable Lease liability-land Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 3,000 3,120 750 979 $ 5,759 $ 5,090 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2018 ($ in 0003) Revenues Sales revenue $2,512 Gain on sale of land _ 35 $2,547 Expenses Cost of goods sold Depreciation expense-building Depreciation expense-equipment Loss on sale of equipment Amortization of patent Operating expenses Net income $ 799 O OOCONN O OU CD 1.74 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 $180,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $155,000 and $440,000 for stock dividends and cash dividends, respectively. Required: Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Enter your answers in thousands (i.e., 5,000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign.) METAGROBOLIZE INDUSTRIES Statement of Cash Flows For year ended December 31, 2018 ($ in 000s) Cash inflows: Cash outflows: $ Noncash investing and financing activities