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The comparative balance sheets for 2013 and 2012 and the statement of income for 2013 are given below for Wright Company. Additional information from Wright's

The comparative balance sheets for 2013 and 2012 and the statement of income for 2013 are given below for Wright Company. Additional information from Wright's accounting records is provided also.

WRIGHT COMPANY Comparative Balance Sheets December 31, 2013 and 2012 ($ in 000s)
2013 2012
Assets
Cash $ 130 $ 120
Accounts receivable 163 165
Short-term investment 62 24
Inventory 162 160
Land 122 150
Buildings and equipment 770 580
Less: Accumulated depreciation (223) (165)
$ 1,186 $ 1,034
Liabilities
Accounts payable $ 50 $ 53
Salaries payable 4 6
Interest payable 8 5
Income tax payable 9 15
Notes payable 0 38
Bonds payable 356 280
Shareholders' Equity
Common stock 445 380
Paid-in capitalexcess of par 217 190
Retained earnings 97 67
$ 1,186 $ 1,034

WRIGHT COMPANY Income Statement For Year Ended December 31, 2013 ($ in 000s)
Revenues
Sales revenue $ 660
Expenses
Cost of goods sold $ 310
Salaries expense 94
Depreciation expense 58
Interest expense 10
Loss on sale of land 3
Income tax expense 95 570
Net income $ 90

Additional information from the accounting records:
a. Land that originally cost $28,000 was sold for $25,000.
b.

The common stock of Microsoft Corporation was purchased for $38,000 as a short-term investment not classified as a cash equivalent.

c. New equipment was purchased for $190,000 cash.
d. A $38,000 note was paid at maturity on January 1.
e. On January 1, 2013, bonds were sold at their $76,000 face value.
f. Common stock ($65,000 par) was sold for $92,000.
g. Net income was $90,000 and cash dividends of $60,000 were paid to shareholders.

Required:

Prepare the statement of cash flows of Wright Company for the year ended December 31, 2013. Present cash flows for operating, investing and financing by the INDIRECT METHOD. (You may omit the schedule to reconcile net income with cash flows from operating activities.)(Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.)

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