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 METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2018 and 2817 s in ee0s) 2018 Assets Cash Accounts receivable Inventory Land Building $ 440 198 250 388 575 800 (280) (178) 479 620 625 800 Less: Accumulated depreciation 2,880 2,51 Less: Accumulated depreciation (451) (428) Patent 1.600 1.888 6,7045,915 Liabilities Accounts payable Accrued expenses payable Lease liability-land Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings $ 728 47e 165 210 130 2,65e2,500 470 509 2,4942 310 6,784 $ 5,915 HETAGROBOLIZE INDUSTRIES Income Statement TAGROBOL I Income Statesent For the Year Ended December 31, 2018 in 000s Revenu revenue of 1 $2,807 Sales revenue Gain on sale of land 6 $2,867 Expenses Cost of goods sold Depreciation expense-building $ 928 30 328 10 2e0 Depreciation expense-equipment Loss on sale of equipment Amortization of patent Operating expenses 60 2 888 $ 779 Net incone Additional information from the accounting records a. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2018 b. During 2018, equipment with a cost of $330,000 (90% depreciated) was sold. c The statement of shareholders' equity reveals reductions of $180,000 and $415,000 for stock dividends and cash dividends, respectively Required: Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2018. Present cash flows from operating activities by the direct method (Enter your answers in thousands (i.e., 5,000 should be entered as 5). Amounts to be deducted should be indiceted with a minus sign.) & Answer is not complete. METAGROBOLIZE INDUSTRIES Statement of Cash Flows For year ended December 31, 2018 ($ in 000s) Cash flows from operating activities: Cash inflows Os 2.867 From customers From dividends received Purchase of equipment 920 03 600 Cash outflows 920 3 600 To suppliers of goods For operating expenses 5.907 Net cash flows from operating activities Cash flows from investing activities 10 3 (2,800 Sale of equipment Purchase of equipment Cash outfilows 920 | 600 To suppliers of goods For operating expenses S 5,907 Net cash flows from operating activities Cash flows from investing activities 10 8 Sale of equipment Purchase of equipment (2.800) (2,790) Net cash flows from investing activities Cash flows from financing activities 415,000 0 180,000 Payment of cash dividends Sale of bonds payable 595,000 20,000 Net cash flows from financing activities Net increase in cash 779 3 20,779 Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities