Problem 21-17 Statement of cash flows; Indirect method (LO21-4, 21-8] Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Metagrobolize Industries Additional Information from the accounting records of Metagrobolize also is provided METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2018 and 2017 ($ in 00s) 2018 2017 570 $ 400 230 445 750 685 Accounts receivable Inventory Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Patent (258) (235) 3.450 3,290 (364) (320) 1.9882,800 $ 8,566 $ 7,545 $ 980 $ 688 Liabilities Accounts payable Accrued expenses payable Lease liability-land Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 3,700 Bee 3,500 255 $8.566 $ 7.545 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2018 (5 in ) Revenues Sales revenue Gain on sale of land Expenses Cost of goods sold $ 1.18 Depreciation expense-building Depreciation expence equipment LOSS on sale of equipment Amortization of patent Operating expenses $ 350 Net income 2.362 Additional information from the accounting records: 3. Annual payments of $20,000 on the finance lease ability are paid each January 1, beginning in 2018. b. During 2018, equipment with a cost of $720.000 (90% depreciated) was sold c. The statement of shareholders' equity reveals reductions of $245,000 and $350,000 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. (Le.. 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 is in 00s) Adjustments for noncash effects Changes in operating assets and abilities 30