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 Assets Cash Accounts receivable Inventory Land Building December 31, 2024 and 2023 ($ in thousands) 2024 2023 $ 410 $ 150 410 220 560 365 575 530 900 900 (200) (165) 2,650 2,330 (388) (360) 1,300 1,600 $ 6,217 $ 5,570 Less: Accumulated depreciation Equipment Less: Accumulated depreciation Patent Liabilities Accounts payable Accrued liabilities Lease liability-land Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings $ 660 180 130 $ 360 130 0 3,000 3,160 500 1,587 495 1,585 $ 6,217 $ 5,570 Revenues METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2024 Sales revenue (s in thousands) Gain on sale of land Expenses Cost of goods sold Depreciation expense-building Depreciation expense-equipment Loss on sale of equipment $ 2,551 45 $ 2,596 860 35 244 10 Revenues METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2024 (s in thousands) Sales revenue Gain on sale of land Expenses Cost of goods sold Depreciation expense-building Depreciation expense-equipment Loss on sale of equipment Amortization of patent Operating expenses Net income $ 2,551 45 $ 2,596 860 35 244 10 300 550 1,999 $ 597 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 $240,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $165,000 and $430,000 for stock dividends and cash dividends, respectively. Required: Prepare the statement of cash flows for Metagrobolize Industries using the indirect method. Note: Enter your answers in thousands (i.e., 10,000 should be entered as 10).) Amounts to be deducted should be indicated with a minus sign. METAGROBOLIZE INDUSTRIES Statement of Cash Flows For year ended December 31, 2024 Cash flows from operating activities: Net income Adjustments for noncash effects: ($ in 000s) METAGROBOLIZE INDUSTRIES Statement of Cash Flows For year ended December 31, 2024 ($ 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 Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: + $ 0 0 Changes in operating assets and liabilities: Net cash flows from operating activities 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 cash Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities: 30 0 $ 0