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$)$

$20242023$

Assets

Cash $ $450$ $ $160$

Accounts receivable $490260$

Inventory $640385$

Land $505590$

Right$-$of$-$use asset$$land $1500$

Building $800800$

Less: Accumulated depreciation $(250)(230)$

Equipment $2,8502,570$

Less: Accumulated depreciation $(472)(440)$

Patent $1,7001,950$

$ $6,863$ $ $6,045$

Liabilities

Accounts payable $ $745$ $ $440$

Accrued liabilities $220155$

Lease liability$$land $1300$

Shareholders' Equity

Common stock $2,6002,500$

Paid$-$in capital$$excess of par $600515$

Retained earnings $2,5682,435$

$ $6,863$ $ $6,045$

METAGROBOLIZE INDUSTRIES

Income Statement

For the Year Ended December $31,2024$

$($$ 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 $6002,176$

Net income $ $728$

Additional information from the accounting records:

On December $31,2024.$ acquired the use of land with a finance lease. Annual payments of $$20,000$ on the liability are paid at the end of each year beginning in $2024.$

During $2024,$ equipment with a cost of $$360,000(90\%$ depreciated$)$ was sold.

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 $31,2024.$ 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.