Comparative balance sheets for 2024 and 2023 and a statement of income for 2024 are given below for Metagrobolize Industries. Additional Information from the accounting records of Metagrobolize also is provided. METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2024 and 2023 ($ in thousands) 2324 2323 Assets cash $ 560 $ 370 Accounts receivable 713 373 Inventory 860 pue7 703 678 Building Less: Accumulated depreciation (230) (160) Equipment 3,463 3, 230 Less: Accumulated depreciation (343) (380) Patent 1, 803 2, 160 $ 8,387 $7,620 Liabilities Accounts payable $ 963 $ 716 Accrued liabilities 330 260 Lease liability-land 130 Shareholders' Equity Common stock 3, 680 8,580 Paid-in capital-excess of par Retained earnings 2,487 2,418 $ 8,387 $ 7, 620 METAGROBOLIZE INDUSTRIES Income statement For the Year Ended December 31, 2824 ($ in thousands) Revenues Sales revenue $ 3, 131 Gain on sale of land $ 3, 211 Expenses Cost of goods sold 1, 160 Depreciation expense-building Depreciation expense equipment 564 Loss on sale of equipment 25 Amortization of patent Operating expenses 358 2, 539 Net income $ 672 Additional Information from the accounting records: a. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning In 2024. b. During 2024, equipment with a cost of $690,000 (90% depreciated) was sold. C. The statement of shareholders' equity reveals reductions of $240,000 and $355,000 for stock dividends and cash dividends, respectively. Required: Prepare the statement of cash flows for Metagrobolize Industries using the indirect method. Note: 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.Required: Prepare the statement of cash flows for Metagrobolize Industries using the Indirect method. Note: 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 Statement of Cash Flows For year ended December 31, 2024 [S in 000s] Cash flows from operating activities: Net income Adjustments for noncash effects. Changes in operating assets and liabilities: Net cash flows from operating activities S 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 cast Cash balance, January Cash balance, December 31 Noncash investing and financing activities