METAGROBOLIZE I Incone Statement For the Year Ended December 31, 2018 Revenues Sales revenue Gain on sale of land 2,765 55 $ 2,820 Cost of goods sold Depreciation expense-building Depreciation expense-equipment Loss on sale of equipment Amortization of patent Operating expenses $ 900 15 300 10 150 5 55e 1,925 S 895 Net incone Additional information from the accounting records , a. Annual payments of $20.000 on the finance lease liability are paid each January 1, beginning in 2018. b. During 2018, equipment with a cost of $300,000 (90% depreciated) was sold. c The statement of Shareholders' equity reveals reductions of S175,000 and $420.000 for stock dividends and cash dividends, respectively Required: Prepare the statement of cash flows for Metagrobolize Industries using the indirect method. (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, 2018 Statement of Cash Flows For year ended December 31, 2018 (S in 000s) Cash flows from operating activities: Net income Adjustments for noncash effects 895 Building Depreciation e Depreciation expense-Equipment Loss on sale of equipment Amortization of patent Gain on sale of land 15 300 10 150 (55) Changes in operating assets and iabilities Increase in accounts receivable (210) (225) Increase in inventory Net cash flowa from operating activites 880 Cash flows from investing activities Net cash flows from operating activites 880 Cash flows from investing activities Sale of equipment Sale of land 20 95 Net cash flows from investing activities 115 Cash flows from financing activities Payment of cash dividends Payment on lease liability (420) (20) Net cash flows from financing activites (440) Net increase in cash 200 190 390 Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities Acquired land 150