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:

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 $180,000 (90% depreciated) was sold.

c. The statement of shareholders equity reveals reductions of $155,000 and $440,000 for stock dividends and cash dividends, respectively.

Required: 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.)

METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2018 and 2017 s in 000s) 2018 2017 Assets Cash Accounts receivable Inventory Land Building $ 390 $170 200 355 500 900 370 520 525 900 Less: Accumulated depreciation (250) (225) Equipment 2,550 2,210 Less: Accumulated depreciation (346) (320) Patent 1,100 5,759 1,300 5,09 Liabilities Accounts payable Accrued expenses payable Lease liability-land Shareholders Equity Common stock Paid-in capital-excess of par Retained earnings $ 620 470 130 160 130 3,120 750 3,000 715 775 979- $ 5,759 5,090 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2018 ($ in 000s) Revenues Sales revenue Gain on sale of land $ 2,512 35 2,547 Expenses Cost of goods sold Depreciation expense-building Depreciation expense-equipment Loss on sale of equipment Amortization of patent Operating expenses $ 820 25 188 15 200 $ 500 1.748 $ 799 Net income