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Comparative balance sheets for 2021 and 2020 and a statement of income for 2021 are given below for Metagrobolize Industri Additional information from the accounting
Comparative balance sheets for 2021 and 2020 and a statement of income for 2021 are given below for Metagrobolize Industri Additional information from the accounting records of Metagrobolize also is provided. Snarenoiaers tquicy Common stock Paid-in capital-excess of par Retained earnings METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 (\$) in thousands) Revenues Sales revenue $2,645 Gain on sale of land Expenses cost of goods sold 99$2,735 Depreciation expense-building Depreciation expense-equipment Loss on sale of equipment Amortization of patent: $600 operating expenses Net income Additional information from the accounting records: a. Annual payments of $20.000 on the finance fease liability are paid each January 1 , beginning in 2021 b. During 2021 , equipment with a cost of $300.000 (90\% depreciated was sold. c. The statement of shareholders' equity reveals reductions of $225.000 and $450.000 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 o minus sign.)
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