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 2017 ($ in 000s)

2018

2017

Assets

Cash

$

440

$

190

Accounts receivable

470

250

Inventory

620

380

Land

625

575

Building

800

800

Less: Accumulated depreciation

(200

)

(170)

Equipment

2,800

2,510

Less: Accumulated depreciation

(451

)

(420

)

Patent

1,600

1,800

$

6,704

$

5,915

Liabilities

Accounts payable

$

720

$

470

Accrued expenses payable

210

165

Lease liabilityland

130

0

Shareholders' Equity

Common stock

2,650

2,500

Paid-in capitalexcess of par

500

470

Retained earnings

2,494

2,310

$

6,704

$

5,915

METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2018 ($ in 000s)
Revenues
Sales revenue	$	2,807
Gain on sale of land		60		$	2,867
Expenses
Cost of goods sold	$	920
Depreciation expensebuilding		30
Depreciation expenseequipment		328
Loss on sale of equipment		10
Amortization of patent		200
Operating expenses		600			2,088
Net income				$	779

Additional information from the accounting records:

1. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2018.
2. During 2018, equipment with a cost of $330,000 (90% depreciated) was sold.
3. 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 indicated with a minus sign.)