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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

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 $ 540 $ 285
Accounts receivable 670 350
Inventory 820 430
Land 600 570
Building 900 900
Less: Accumulated depreciation (250 ) (220)
Equipment 3,300 3,110
Less: Accumulated depreciation (481 ) (440 )
Patent 1,600 1,800
$ 7,699 $ 6,785
Liabilities
Accounts payable $ 920 $ 720
Accrued liabilities 310 250
Lease liabilityland 130 0
Shareholders' Equity
Common stock 3,640 3,500
Paid-in capitalexcess of par 550 460
Retained earnings 2,149 1,855
$ 7,699 $ 6,785

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 a minus sign.)

METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands)
Revenues
Sales revenue $ 3,152
Gain on sale of land 70 $ 3,222
Expenses
Cost of goods sold $ 1,120
Depreciation expensebuilding 30
Depreciation expenseequipment 608
Loss on sale of equipment 25
Amortization of patent 200
Operating expenses 350 2,333
Net income $ 889

Additional information from the accounting records:

Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2021.

During 2021, equipment with a cost of $630,000 (90% depreciated) was sold.

The statement of shareholders' equity reveals reductions of $230,000 and $365,000 for stock dividends and cash dividends, respectively.

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