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Comparative balance sheets for 2013 and 2012 and a statement of income for 2013 are given below for Metagrobolize Industries. Additional information from Metagrobolize's accounting

Comparative balance sheets for 2013 and 2012 and a statement of income for 2013 are given below for Metagrobolize Industries. Additional information from Metagrobolize's accounting records is provided also.

METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2013 and 2012 ($ in 000s)
2013 2012
Assets
Cash $ 520 $ 305
Accounts receivable 590 310
Inventory 740 410
Land 750 735
Building 700 700
Less: Accumulated depreciation (200) (185)
Equipment 3,100 2,870
Less: Accumulated depreciation (397) (360)
Patent 1,200 1,450
$ 7,003 $ 6,235
Liabilities
Accounts payable $ 840 $ 640
Accrued expenses payable 270 230
Lease liabilityland 150 0
Shareholders' Equity
Common stock 3,700 3,500
Paid-in capitalexcess of par 550 540
Retained earnings 1,493 1,325
$ 7,003 $ 6,235
METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2013 ($ in 000s)
Revenues
Sales revenue $ 2,894
Gain on sale of land 90 $ 2,984
Expenses
Cost of goods sold $ 1,040
Depreciation expensebuilding 15
Depreciation expenseequipment 496
Loss on sale of equipment 20
Amortization of patent 250
Operating expenses $ 400 2,221
Net income $ 763

Additional information from the accounting records:
a. During 2013, equipment with a cost of $510,000 (90% depreciated) was sold.
b.

The statement of shareholders equity reveals reductions of $210,000 and $385,000 for stock dividends and cash dividends, respectively.

c. The land leased during the year is classified as an asset by the company
Required:

Prepare the statement of cash flows for Metagrobolize Industries using the indirect method. (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.)

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