- Information from the financial statements of Metagrabolize Industries is shown below. 2017 METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) 2018 Assets Cash 500 Accounts receivable 590 Inventory 740 Land 750 Building 700 Less: Accumulated depreciation (200) Equipment 3,100 Less: Accumulated depreciation (397) Patent 1,200 $ 6,983 Liabilities Accounts payable $ 840 Accrued expenses payable 270 Lease liability-land 130 Shareholders' Equity Common stock 3,700 Paid-in capital-excess of par Retained earnings 1,493 $ 6,983 $ 305 310 410 735 700 (185) 2,870 (360) 1,450 $ 6,235 $ 640 230 550 3,500 540 1,325 $ 6,235 $ 2,894 90 $ 2,984 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2018 ($ in 000s) Revenues 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 $ 1,040 15 496 20 250 400 2,221 763 $ Additional information from the accounting records: a. Acquired land by signing a lease and also paid $20,000 of the lease liability. b. During 2018, equipment with a cost of $510,000 (90% depreciated) was sold. c. Stock dividends of $210,000 were declared and paid. d. Make logical assumptions about any changes in accounts that are not specifically explained. Prepare the complete) statement of cash flows. Use the indirect method for operating activites