Help 4 eBook Pue eferences The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Wright Company Additional Information from Wright's accounting records is provided also. WRIGHT COMPANY Comparative Balance Sheets December 31, 2021 and 2020 (s in thousands) Assets 2021 2020 cash Accounts receivable $123 $ 110 Short term investment 151 155 56 Inventory 20 Land 155 150 Buildings and equipment 114 140 760 Lessi Accumulated depreciation 560 (211) (155) $1.110 Liabilities Accounts payable Salarios payable 5 46 1 51 Interest payable 4 2 Income tax payable Notes payable 13 16 Bonds payable 332 Shareholders' Equity 260 Common stock Pald-in capital excess of par 435 360 200 Retained earning 110 09 $1.130 90 4 0 90 WRIGHT COMPANY Income Statement For Year Ended December 31, 2021 (5 in thousands) Revenues: Sales revenue $ 640 Expenses: cost of goods sold $ 290 Salaries expense 95 Depreciation expense Interest expense 19 LOSS on sale of land 4 Income tax expense 96 Net income 580 Additional information from the accounting records a. Land that originally cost $26,000 was sold for $22.000 b. The common stock of Microsoft Corporation was purchased for $36,000 as a short-term investment not classified as a cash equivalent c New equipment was purchased for $180,000 cash d. A $36,000 note was paid at maturity on January 1 On January 1, 2021. bonds were sold at their $72,000 face value t Common stock ($75,000 par) was sold for $95.000 g Net income was $80,000 and cash dividends of $50.000 were paid to shareholders WRIGHT COMPANY Statement of Cash Flows For the year ended December 31, 2021 (5 in thousands) Cash flows from operating activities: Cash inflows Cash outflows: Net cash flows from operating activities Cash flows from investing activities Net cash flows from investing activities Cash flows from financing activities Net cash flows from financing activities Net increase (decrease in cash Cash balance, January 1 Cash balance, December 31 Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (.e., 10,000 should be entered as 10).) WRIGHT COMPANY Statement of Cash Flows For the year ended December 31, 2021 ($ in thousands) Cash flows from operating activities Cash in