7 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) 12.5 points 2021 2020 Skipped Assets Cash Accounts receivable Inventory Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Patent $ 450 $ 168 498 268 640 385 650 598 800 800 (250) (230) 2,570 (472) (440) 1,700 1,950 $ 6,858 $ 6,845 2,85e $ $ 740 220 130 440 155 Liabilities Accounts payable Accrued liabilities Lease liability-land Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 2,600 600 2,568 $ 6,858 2,5ee 515 2,435 $ 6,845 ME TAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $2,839 Gain on sale of land 65 $2,904 Expenses Cost of goods sold $ 940 Depreciation expense-building 20 Depreciation expense-equipment 356 Loss on sale of equipment 10 Amortization of patent 250 Operating expenses 609 2,176 Net income $ 728 199***** 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 $360,000 (90% depreciated) was sold. C. The statement of shareholders' equity reveals reductions of $185,000 and $410,000 for stock dividends and cash dividends, respectively. Required: Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Enter your answers in thousands (I.e., 10,000 should be entered as 10). Amounts to be deducted Required: Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Enter your answers in thousands (I.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus slgn.) METAGROBOLIZE INDUSTRIES Statement of Cash Flows For the year ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Cash inflows: Cash outflows: $ Net cash flows from operating activities Cash flows from investing activities: 0 Net cash flows from investing activities Cash flows from financing activities: 0 0 Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance. December 31 Noncash investing and financing activities: s 0