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 530 650 800 600 900 (200) 3,250 (460) 1,500 $ 7,570 $ 255 340 425 555 900 (175) 3,050 (420) 1,650 $ 6,580 $ $ 900 300 130 600 245 Liabilities Accounts payable Accrued liabilities Lease liability-land Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 3,620 550 2,070 $ 7,570 3,500 445 1,790 $ 6,580 $ 3,105 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $ 3,040 Gain on sale of land 65 Expenses Cost of goods sold 1,100 Depreciation expense-building 25 Depreciation expense-equipment 580 Loss on sale of equipment 25 Amortization of patent 150 Operating expenses 350 Net income 2,230 875 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 $600,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $225,000 and $370,000 for stock dividends and cash dividends, respectively. Required: Prepare the statement of cash flows for Metagrobolize Industries using the indirect method. (Enter your answers in thousands (i.e., 10,000 should be entered as 10).) Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows For year ended December 31, 2021 ($ in 000s) Cash flows from operating activities: Net income Adjustments for noncash effects: Changes in operating assets and liabilities: $ 0 (20) 170 Net cash flows from operating activities Cash flows from investing activities: Payment on lease liability Sale of land Sale of equipment Purchase of equipment Net cash flows from investing activities Cash flows from financing activities: Payment of dividends 35 (800) (615) (370) Net cash flows from financing activities (370) Net increase in cash Cash balance, January 1 Cash balance, December 31 $ 0 Noncash investing and financing activities