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 $ $405$ $ $245$

Accounts receivable $350190$

Inventory $500275$

Land $500450$

Building $900900$

Less: Accumulated depreciation $(200)(180)$

Equipment $2,5002,150$

Less: Accumulated depreciation $(325)(300)$

Patent $1,0001,150$

$ $5,630$ $ $4,880$

Liabilities

Accounts payable $ $600$ $ $400$

Accrued liabilities $150130$

Lease liability$$land $1300$

Shareholders' Equity

Common stock $3,1003,000$

Paid$-$in capital$$excess of par $750700$

Retained earnings $900650$

$ $5,630$ $ $4,880$

METAGROBOLIZE INDUSTRIES

Income Statement

For the Year Ended December $31,2024$

$($$ in thousands$)$

Revenues

Sales revenue $ $2,555$

Gain on sale of land $30$ $ $2,585$

Expenses

Cost of goods sold $ $800$

Depreciation expense$$building $20$

Depreciation expense$$equipment $160$

Loss on sale of equipment $10$

Amortization of patent $150$

Operating expenses $6001,740$

Net income $ $845$

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 $$150,000(90\%$ depreciated$)$ was sold.

The statement of shareholders' equity reveals reductions of $$150,000$ and $$445,000$ 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.