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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
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. 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 $420,000 ( 90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $195,000 and $400,000 for stock dividends and cash dividends, respectively. Required: Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2024. Present cash flows from operating activities by the direct 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 ninus sign
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