The comparative balance sheets (2021, 2020) and the income statement (2021) for Company A are shown below. Additional information from the accounting records follow the statements. Prepare the statement of cash flows of Company A for the year ended December 31, 2021 using the direct method. Enter the values in thousands.

	31-Dec-21	31-Dec-20	Change	Cash flow
Balance sheet				(Enter Increase or Decrease)
Asset:
Cash
Accounts receivable
Less: Allowance
Dividends receivable
Inventory
Long-term investments
Land
Buildings & equipment
Less: Accumulated depreciation
Liabilities:
Accounts payable
Salaries payable
Interest payable
Income tax payable
Notes payable
Bonds payable
Less: Discount on bonds
Shareholders' equity:
Common stock
Paid-in capital - excess of par
Retained earnings
Less: Treasury stock
	$ -	$ -
Income Statement
Revenues:
Sales revenue
Dividend revenue
Expenses:
Cost of goods sold
Salaries expense
Depreciation expense
Bad debt expense
Interest expense
Loss on sale of building
Income tax expense		$ -	$ -
		$ -
Statement of cash flows
Operating activities:
Cash inflows
From customers
From dividends
Cash outflows
To suppliers
To employees
For interest
For income taxes
Net cash flows
Investing activities:
Sale of building
Purchase of long-term investment
Purchase of equipment
Net cash flows	$ -
Financing activities:
Sale of bonds payable
Payment of dividends
Purchase of stock
Net cash flows
Net increase in cash
Cash balance January 1
Cash balance December 31
Noncash investing and financing activities:

DIRECTIONS
Company A
Comparative Balance Sheets
December 31, 2021 and 2020
($ in thousands)	31-Dec-21	31-Dec-20
Balance sheet
Asset:
Cash	$ 33	$ 20
Accounts receivable	48	50
Less: Allowance	(4)	(3)
Dividends receivable	3	2
Inventory	55	50
Long-term investments	15	10
Land	70	40
Buildings & equipment	225	250
Less: Accumulated depreciation	(25)	(50)
	420	369
Liabilities:
Accounts payable	$ 13	$ 20
Salaries payable	2	5
Interest payable	4	2
Income tax payable	7	8
Notes payable	30	-
Bonds payable	95	70
Less: Discount on bonds	(2)	(3)
Shareholders' equity:
Common stock	210	200
Paid-in capital - excess of par	24	20
Retained earnings	45	47
Less: Treasury stock	$ (8)	-
	$ 420	$ 369
Company A
Income Statement
For the year Ended December 31, 2021
($ in thousands)
Revenues:
Sales revenue	$ 200
Dividend revenue	3	$ 203
Expenses
Cost of goods sold	120
Salaries expense	25
Depreciation expense	5
Bad debt expense	1
Interest expense	8
Loss on sale of building	3
Income tax expense	16	178
Net income:		$ 25
Additional information from the accounting records:
a. A building was sold for $7000. It originally cost $40,000 and was three-fourths depreciated. b. The common stock of Company B was purchased for $5,000 as a long-term investment. c. Company A acquired property by leasing a note payable to the seller. The terms were $30,000 with a 13% rate for seven years. d. New equipment purchased for $15,000 cash. e. January 1, 2021: bonds were sold at their $25,000 face value. f. January 19: a 5% stock dividend (1,000 shares) issued. The market price was $14 per share for the $10 par value common stock on this day. g. Shareholders received cash dividends of $13,000. h. November 12: Company A repurchased 500 shares of common stock as treasury stock at the cost of $8,000. You may omit the schedule to reconcile net income to cash flows from operating activities.
				$ in thousands
Building cost				$ 40
Building selling price				$ 7
Building depreciated				3/4
Common stock purchased as long term investment		5
Note payable for property				$ 30
Note payable interest				13%
Equipment purchase				$ 15
Bond sale, 1/1/21				$ 25
Stock dividend issue (1,000 shares)				5%
Common stock par value				$ 10
Market price per share				$ 14
Cash dividends paid				$ 13
Number of common stock shares repurchased			500
Common stock repurchase cost				$ 8