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 2e2e ($ in thousands) 2021 2020 Assets Cash $1,000 $ 495 Accounts receivable 840 570 Inventory 1,140 645 Land 915 720 Building 1,140 1,140 Less: Accumulated depreciation (540) (390) Equipment 3, e9e 2,370 Less: Accumulated depreciation (765) (680) Patent 1,440 1,860 $ 8,260 $ 6,810 Liabilities Accounts payable $ 990 $ 570 Accrued liabilities 540 485 Lease liability--Land 370 Shareholders' Equity Common stock 3,27e 3,120 e Shareholders. Equity Common stock Paid-in capital-excess of par Retained earnings 3,270 990 2,100 $ 8,260 3,120 855 1,860 $ 6,810 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $3,459 Gain on sale of land 102 $3,561 Expenses Cost of goods sold $ 720 Depreciation expense-building 150 Depreciation expense-equipment 543 Loss on sale of equipment 25 Amortization of patent 420 Operating expenses 620 2,478 Net income $1,083 Additional information from the accounting records: 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 $420,000 (90% depreciated) was sold c. The statement of shareholders' equity reveals reductions of $285,000 and $558,000 for stock dividends and cash dividends, respectively Problem 21-20 (Algo) Part 1 Required: Prepare the T-accounts for Metagrobolize Industries. (Enter your answers in thousands. (i.e. 10,000 should be entered as 10 Required: Prepare the T-accounts for Metagrobolize Industries (Enter your answers in thousands. (i.e., 10,000 should be enter Cash Bog. Bal. Operating Activities: Investing Activities: Financing Activities: End. Bal. Required information Accounts Receivable Beg Bai Beg Bai End Bal. End. Bal. Land 720 Bog. Bat. Big Bal. Sale of land ince End. Bal 720 End. Bal Equipment Beg Bal Bog Bal Required information Inventory Beg Bal End, Bal Accumulated Depreciation - Buildings Bog Bal End. Bal Accumulated Depreciation - Equipment Beg Bal