Comparative balance sheets for 2021 and 2020 and a statement of income for 2021 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.

METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020 Assets Cash Accounts receivable Inventory Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Patent $ 450 490 640 650 800 (250) 2,850 (472) 1,700 $ 6,858 $ 160 260 385 590 800 (230) 2,570 (440) 1,950 $ 6,045 $ $ 740 220 130 440 155 Liabilities Accounts payable Accrued liabilities Lease liability-land Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 2,500 515 2,600 600 2,568 $ 6,858 2,435 $ 6,045 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $2,839 Gain on sale of land 65 $2,904 Expenses Cost of goods sold $ 940 Depreciation expense-building 20 Depreciation expense-equipment 356 Loss on sale of equipment 10 Amortization of patent Operating expenses 600 2,176 Net income $ 728 250 Additional information from the accounting records: a. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2021. b. During 2021, equipment with a cost of $360,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $185,000 and $410,000 for stock dividends and cash dividends, respectively. METAGROBOLIZE INDUSTRIES Statement of Cash Flows For the year ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Cash inflows: Cash outflows: 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 (decrease) in cash Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities