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 $510,000 (90% depreciated) was sold.

c) The statement of shareholders' equity reveals reductions of $210,000 and $385,000 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 minus sign.

\begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{\begin{tabular}{l} METAGROBOLIZE INDUSTRIES \\ Comparative Balance Sheets \\ December 31, 2024 and 2023 \\ ( $ in thousands) \end{tabular}} \\ \hline \multicolumn{3}{|l|}{ Assets } \\ \hline Cash & $500 & $305 \\ \hline Accounts receivable & 590 & 310 \\ \hline Inventory & 740 & 410 \\ \hline Land & 750 & 735 \\ \hline Building & 700 & 700 \\ \hline Less: Accumulated depreciation & (200) & (185) \\ \hline Equipment & 3,100 & 2,870 \\ \hline Less: Accumulated depreciation & (397) & (360) \\ \hline \multirow[t]{2}{*}{ Patent } & 1,200 & 1,450 \\ \hline & $6,983 & $6,235 \\ \hline \multicolumn{3}{|l|}{ Liabilities } \\ \hline Accounts payable & $840 & $640 \\ \hline Accrued liabilities & 270 & 230 \\ \hline Lease liability-land & 130 & 0 \\ \hline \multicolumn{3}{|l|}{ Shareholders' Equity } \\ \hline Common stock & 3,700 & 3,500 \\ \hline Paid-in capital-excess of par & 550 & 540 \\ \hline \multirow[t]{2}{*}{ Retained earnings } & 1,493 & 1,325 \\ \hline & $6,983 & $6,235 \\ \hline \end{tabular}