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. METACRONOLY INDUSTRIES Comparative Balance Sheets December 31, 2021 and Raza (thouan 2021 2020 Assets Cash 50 $ 375 Accounts receivable 600 450 Inventory 900 525 Land 675 600 Buliding 900 900 Lost Mountated depreciation (300) (270) Equipment 2050 2,250 TANS Accumulated depreciation (525) (480) Patent 1200 1,500 $6,880 $5.850 Liabilities Accounts payable $ 750 $ 450 Accrued labies 300 225 Le liability and 130 Shareholders Equity Common stock 3,150 3,000 Paid-in capital excesot par 750 675 Retained earnings 1.000 1,500 $6880 $5,450 METAGROROLTRE INDUSTRIES Income Statement For the Year Unded December 31, 2021 in thousands) Ravenues Sales revenue $265 Gain on sale of land 90 $2,735 Expenses Cost of goods sold $ 600 Depreciation expense-building 30 Depreciation expense-equipment 315 Toss on sale of aguipment 15 Amortisation of patent 300 Operating expensen 500 260 Net income $975 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 $300,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $225,000 and $450,000 for stock dividends and cash dividends, respectively Required: Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Enter your answers in thousands (.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.) METAGROBOLIZE INDUSTRIES Statement of Cash Flows For the year ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Cash inflows: From customers $ 2,495 Cash outflows: To suppliers of goods $ 2,495 Net cash flows from operating activities Cash flows from investing activities: Purchase of equipment Sale of land Sale of equipment 0 Net cash flows from investing activities Cash flows from financing activities: 2.495 Net cash flows from operating activities Cash flows from investing activities: Purchase of equipment Sale of land Sale of equipment 0 Net cash flows from investing activities Cash flows from financing activities: Payment of dividends Payment on lease liability 0 2,495 Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities: Acquired land 2,495