The comparative balance sheets for $2024$ and $2023$ and the statement of income for $2024$ are given below for Wright Company. Additional information from Wright's accounting records is provided also.

WRIGHT COMPANY

Comparative Balance Sheets

December $31,2024$ and $2023$

$($$ in thousands$)$

$20242023$

Assets

Cash $ $83$ $ $55$

Accounts receivable $98100$

Short$-$term investment $4218$

Inventory $9995$

Land $7085$

Buildings and equipment $570450$

Less: Accumulated depreciation $(145)(100)$

$ $817703$

Liabilities

Accounts payable $ $31$ $ $40$

Salaries payable $57$

Interest payable $75$

Income tax payable $814$

Notes payable $024$

Bonds payable $198150$

Shareholders$$ Equity

Common stock $310250$

Paid$-$in capital$$excess of par $150125$

Retained earnings $10888$

$ $817$ $ $703$

WRIGHT COMPANY

Income Statement

For Year Ended December $31,2024$

$($$ in thousands$)$

Revenues:

Sales revenue $ $420$

Expenses:

Cost of goods sold $ $180$

Salaries expense $49$

Depreciation expense $45$

Interest expense $14$

Loss on sale of land $4$

Income tax expense $58350$

Net income $ $70$

Additional information from the accounting records:

Land that originally cost $$15,000$ was sold for $$11,000.$

The common stock of Microsoft Corporation was purchased for $$24,000$ as a short$-$term investment not classified as a cash equivalent.

New equipment was purchased for $$120,000$ cash.

A $$24,000$ note was paid at maturity on January $1.$

On January $1,2024,$ bonds were sold at their $$48,000$ face value.

Common stock $($$$60,000$ par$)$ was sold for $$85,000.$

Net income was $$70,000$ and cash dividends of $$50,000$ were paid to shareholders.

Required:

Prepare the statement of cash flows of Wright Company for the year ended December $31,2024.$ Present cash flows from operating activities by the direct method.

Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands $($i$.$e$.,10,000$ should be entered as $10).$