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 INDUSTRIESComparative Balance SheetsDecember $31,2024$ and $2023($$ in thousands$)20242023$AssetsCash $ $520$ $ $225$Accounts receivable $630330$Inventory $780420$Land $550540$Building $700700$Less: Accumulated depreciation $(300)(280)$Equipment $3,2002,990$Less: Accumulated depreciation $(439)(400)$Patent $1,4001,500$$ $7,041$ $ $6,025$LiabilitiesAccounts payable $ $880$ $ $630$Accrued liabilities $290240$Lease liability$$land $1300$Shareholders' EquityCommon stock $3,6003,500$Paid$-$in capital$$excess of par $550430$Retained earnings $1,5911,225$$ $7,041$ $ $6,025$METAGROBOLIZE INDUSTRIESIncome StatementFor the Year Ended December $31,2024($$ in thousands$)$RevenuesSales revenue $ $3,078$Gain on sale of land $60$ $ $3,138$ExpensesCost of goods sold $ $1,080$Depreciation expense$$building $20$Depreciation expense$$equipment $552$Loss on sale of equipment $25$Amortization of patent $100$Operating expenses $4002,177$Net income $ $961$Additional information from the accounting records:Annual payments of $$20,000$ on the finance lease liability are paid each January $1,$ beginning in $2024.$During $2024,$ equipment with a cost of $$570,000(90\%$ depreciated$)$ was sold.The statement of shareholders' equity reveals reductions of $$220,000$ and $$375,000$ 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.