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 370 Cash $ 560 Accounts receivable 710 370 440 670 Inventory 860 Land 700 Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation 900 900 (200) 3,400 (343) 1,800 (160) 3,230 (300) 2,100 Patent $ 8,387 $7,620 Liabilities Accounts payable Accrued 1iabilities $ 960 330 710 260 Lease liability-land Sharehol ders' Equity 0 130 Common stock 3,680 3,500 Paid-in capital-excess of par Retained earnings 740 800 2,410 $ 7,620 2,487 $8,387 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $3,131 80 $3,211 Gain on sale of land Expenses Cost of goods sold Depreciation expense-building Depreciation expense-equipment Loss on sale of equipment Amortization of patent Operating expenses $1,160 40 664 25 300 350 2,539 $ 672 Net income 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 $690,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $240,000 and $355,000 for stock dividends and cash dividends, respectively Required: Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Enter your answers in thousands (i.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.) METAGROBOLIZE INDUSTRIES Statement of Cash Flows For the year ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Cash inflows: From customers Cash outflows: To suppliers of goods To employees Net cash flows from operating activities Cash flows from investing activities: Purchase of equipment Sale of land Sale of equipment Net cash flows from investing activities Cash flows from financing activities: Payment of dividends Net cash flows from financing activities 0 Net increase (decrease) in cash 0 Cash balance, January 1 $ Cash balance, December 31 0 Noncash investing and financing activities