The comparative balance sheets for 2016 and 2015 and the statement of income for 2016 are given below for Wright Company. Additional information from Wright's accounting records is provided also.

WRIGHT COMPANY Comparative Balance Sheets December 31, 2016 and 2015 ($ in 000s) 20162015Assets Cash$109 $70 Accounts receivable 110 115 Short-term investment 52 24 Inventory 115 110 Land 82 100 Buildings and equipment 615 480 Less: Accumulated depreciation (163) (115) $920 $784 Liabilities Accounts payable$35 $43 Salaries payable 6 8 Interest payable 7 5 Income tax payable 7 11 Notes payable 0 27 Bonds payable 234 180 Shareholders' Equity Common stock 355 280 Paid-in capitalexcess of par 161 140 Retained earnings 115 90 $920 $784

WRIGHT COMPANY Income Statement For Year Ended December 31, 2016 ($ in 000s)Revenues: Sales revenue $460 Expenses: Cost of goods sold$210 Salaries expense 67 Depreciation expense 48 Interest expense 17 Loss on sale of land 4 Income tax expense 64 410 Net income $50

Additional information from the accounting records:a.Land that originally cost $18,000 was sold for $14,000.b.The common stock of Microsoft Corporation was purchased for $28,000 as a short-term investment not classified as a cash equivalent.c.New equipment was purchased for $135,000 cash.d.A $27,000 note was paid at maturity on January 1.e.On January 1, 2016, bonds were sold at their $54,000 face value.f.Common stock ($75,000 par) was sold for $96,000.g.Net income was $50,000 and cash dividends of $25,000 were paid to shareholders.

Required:Prepare the statement of cash flows of Wright Company for the year ended December 31, 2016. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 5,000 should be entered as 5).)