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 $ $440$ $ $190$

Accounts receivable $470250$

Inventory $620380$

Land $625575$

Building $800800$

Less: Accumulated depreciation $(200)(170)$

Equipment $2,8002,510$

Less: Accumulated depreciation $(451)(420)$

Patent $1,6001,800$

$ $6,704$ $ $5,915$

Liabilities

Accounts payable $ $720$ $ $470$

Accrued liabilities $210165$

Lease liability$—$land $1300$

Shareholders' Equity

Common stock $2,6502,500$

Paid$-$in capital$—$excess of par $500470$

Retained earnings $2,4942,310$

$ $6,704$ $ $5,915$

METAGROBOLIZE INDUSTRIES

Income Statement

For the Year Ended December $31,2024$

$($$ in thousands$)$

Revenues

Sales revenue $ $2,807$ 

Gain on sale of land $60$ $ $2,867$

Expenses

Cost of goods sold $920$ 

Depreciation expense$—$building $30$ 

Depreciation expense$—$equipment $328$ 

Loss on sale of equipment $10$ 

Amortization of patent $200$ 

Operating expenses $6002,088$

Net income $ $779$

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 $$330,000(90\%$ depreciated$)$ was sold.

The statement of shareholders$’$ equity reveals reductions of $$180,000$ and $$415,000$ for stock dividends and cash dividends, respectively.

Required:

Prepare the statement of cash flows for Metagrobolize Industries using the indirect 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.