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 $ 755 700 1,000 775 1,000 (400) 2,950 (625) 1,300 $ 7,455 $ 425 500 575 650 1,000 (320) 2,300 (530) 1,650 $ 6,250 $ $ 850 400 500 300 230 Liabilities Accounts payable Accrued liabilities Lease liability-land Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 3,200 850 1,925 $ 7,455 3,050 750 1,650 $ 6,250 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $2,990 Gain on sale of land 95 $3,085 Expenses Cost of goods sold 650 Depreciation expense-building 80 Depreciation expense-equipment 410 Loss on sale of equipment Amortization of patent 350 Operating expenses 550 2,058 Net income $1,027 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 $350,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $250,000 and $502,000 for stock dividends and cash dividends, respectively. Required: Prepare the T-accounts for Metagrobolize Industries. (Enter your answers in thousands. (.e., 10,000 should be entered as 10).) Cash Beg. Bal. Operating Activities: Investing Activities: Financing Activities: End. Bal. Prepare the statement of cash flows for Metagrobolize Industries. Use the T-account method to assist in your analysis. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands. (i.e., 10,000 should be entered as 10).) METAGROBOLIZE INDUSTRIES Statement of Cash Flows For year ended December 31, 2021 ($ in 000s) 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 in cash Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities