9 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. 1.5 points METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020 eBook Assets Cash Accounts receivable Inventory Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Patent Print $ 400 390 540 550 900 (300) 2,600 (367) 1,200 $ 5,913 $ 205 210 360 515 900 (270) 2,270 (340) 1,450 $ 5,300 $ $ 640 170 130 390 130 Liabilities Accounts payable Accrued liabilities Lease liability-land Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 3,140 750 1,083 3,000 730 1,050 $ 5,300 $ 5,913 9 1.5 points METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $2,489 Gain on sale of land 40 $2,529 Expenses Cost of goods sold $ 840 Depreciation expense-building 30 Depreciation expense-equipment 216 Loss on sale of equipment 15 Amortization of patent 250 Operating expenses 550 1,901 Net income $ 628 13***** eBook Print 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 $210,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $160,000 and $435,000 for stock dividends and cash dividends, respectively. Required: Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Enter your answers in thousands (i.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.) 9 1.5 points METAGROBOLIZE INDUSTRIES Statement of Cash Flows For the year ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Cash inflows: eBook Print Cash outflows. Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities