Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.

Additional information from the accounting records:

Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2018.

During 2018, 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.

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

Provide calculations for all numbers on statement of cash flows.

Use the following format:

Cash Flows From Operating Activities:

Net Income:

Adjustments for Noncash Effects:

Changes in Operating Assets & Liabilities:

Net Cash Flows From Operating Activities:

Cash Flows From Investing Activities:

Net Cash Flows From Investing Activities:

Cash Flows From Financing Activities:

Net Cash Flows From Financing Activities:

Net Increase in Cash:

Cash Balance 1/1:

Cash Balance 12/31:

Noncash Investing & Financing Activities:

METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2018 and 2017 (s in 000s) 2018 2017 Assets Cash Accounts receivable Inventory Land Building $440 $ 190 250 380 575 800 470 620 625 800 Less: Accumulated depreciation (200) (170) Equipment 2,800 2,510 Less: Accumulated depreciation (451) (420) Patent 1.600 1,800 S 6,704 S 5,915 Liabilities Accounts payable Accrued expenses payable Lease liability-land Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings $ 720470 165 210 130 2,650 2,500 470 2,310 S 6,704 $ 5,915 500 2,494