The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Wright Company Additional information from Wright's accounting records is provided also. WRIGHT COMPANY Comparative Balance Sheets December 31, 2e18 and 2817 (s in 0ees) 2818 2017 Assets Cash 84 $ se 95 26 9e Accounts receivable Short-tern investment Inventory Land Buildings and equipment Less: Accumulated depreciation 91 39 96 66 88 555 448 (139) $ 792 (95) 676 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 31 39 6 4 13 8 23 186 148 295 248 149 116 120 91 S 792 676 WRIGHT COMPANY Incone Statement For Year Ended December 31, 2018 (S in eees) Revenues: Sales revenue Expenses: Cost of goods sold Salaries expense Depreciation expense Interest expense Loss on sale of land Income tax expense S 400 $ 170 43 44 13 56 338 Net income 78 Additional information from the accounting records a. Land that originally cost $14,000 was sold for $10,000 b. The common stock of Microsoft Corporation was purchased for $23,000 as a short-term investment not clessified as a cash equivalent c. New equipment was purchased for $115,000 cash d. A $23,000 note was paid at maturity on January 1 e. On January 1, 2018, bonds were sold at their $46,000 face value. t Common stock ($55,000 par) was sold for $84,000. g Net income was $70,000 and cash dividends of $45,000 were paid to shareholders Required: Prepare the stetement of cash flows of Wright Company for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be Indlcated with a minus sign. Enter your answers in thousands (Le, 5,000 should be entered as 3)J WRIGHT COMPANY Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be Indlcated with a minus sign. Enter your answers In thousands (Le., 5,000 should be entered es 5).) WRIGHT COMPANY Statement of Cash Flows For year ended December 31, 2018 (S in 000s) Cash flows from operating activites Cash inflows Cash outflows Net cash fowa from operating activities Cash flows from investing activities Net cash flowa from inveating activities 0 Cash fows from financing activities Net cash flows from financing activities Cash balance. January 1 Cash balance, December 31