9 2.27 points Comparative balance sheets for 2024 and 2023 and a statement of income for 2024 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided. METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2024 and 2023 ($ in thousands) eBook Print Assets Cash Accounts receivable Inventory Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Patent References Liabilities Accounts payable Accrued liabilities Lease liability-land Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 2024 2023 $ 390 $ 190 450 240 600 375 600 560 900 900 (300) (285) 2,750 2,450 (430) 1,500 $ 6,460 (400) 1,650 $ 5,680 $ 700 200 130 $ 550 175 0 3,110 550 1,770 3,000 485 1,470 $ 6,460 $ 5,680 Revenues METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2024 Sales revenue Gain on sale of land Expenses Cost of goods sold ($ in thousands) Depreciation expense-building Depreciation expense-equipment Loss on sale of equipment Amortization of patent $ 2,765 55 $ 2,820 $ 900 15 300 10 150 Operating expenses Net income Additional information from the accounting records: 550 1,925 $ 895 a. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2024. b. During 2024, equipment with a cost of $300,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $175,000 and $420,000 for stock dividends and cash dividends, respectively. Required: Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2024. Present cash flows from operating activities by the direct method. Note: 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.