Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020 Assets Cash Accounts receivable Inventory Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Patent $ 470 530 680 700 800 (200) 2,950 (334) 1,900 $ 7,496 $ 220 280 395 620 800 (170) 2,690 (300) 2,000 $ 6,535 $ 780 $ 630 240215 130 0 Liabilities Accounts payable Accrued liabilities Lease liability-land Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 2,640 600 3,106 $ 7,496 2,500 545 2,645 $6,535 $ 3,198 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $ 3,123 Gain on sale of land 75 Expenses Cost of goods sold 980 Depreciation expense-building 30 Depreciation expense-equipment Loss on sale of equipment 20 Amortization of patent 100 Operating expenses 600 Net income 412 2,142 $ 1,056 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 $420,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $195,000 and $400,000 for stock dividends and cash dividends respectively. Required: 10,000 should be entered as 10).) Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows For year ended December 31, 2021 ($ in 000s) Cash flows from operating activities: Net income Adjustments for noncash effects: Changes in operating assets and liabilities: Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities: $ 0