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. 2017 6.66 points Skipped WRIGHT COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) 2018 Assets Cash $ 130 Accounts receivable 163 Short-term investment 62 Inventory 162 Land 122 Buildings and equipment 770 Less: Accumulated depreciation (223) $1,186 Liabilities Accounts payable $ 50 Salaries payable Interest payable Income tax payable Notes payable Bonds payable Shareholders' Equity Common stock 445 Paid-in capital-excess of par 217 Retained earnings 97 $1,186 $ 120 165 24 160 150 580 (165) 1,034 Ask Print References $ 53 6 5 *00000 15 38 280 380 190 67 $1,034 $ 660 WRIGHT COMPANY Income Statement For Year Ended December 31, 2018 ($ in 000 s) Revenues: Sales revenue Expenses: Cost of goods sold $ 310 Salaries expense Depreciation expense 58 Interest expense 10 Loss on sale of land Income tax expense 95 Net income 6.66 points 94 Skipped 570 $ 90 Ask Print Additional information from the accounting records: References 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, 2018, 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 $60,000 were paid to shareholders. Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 5,000 should be entered as 5).) 6.66 points WRIGHT COMPANY Statement of Cash Flows For year ended December 31, 2018 ($ in 000s) Cash flows from operating activities: Cash inflows: Skipped Ask Print Cash outflows: References Net cash flows from operating activities. Cash flows from investing activities: Net cash flows from operating activities. Cash flows from investing activities: 6.66 points Skipped Net cash flows from investing activities Cash flows from financing activities: Ask Print References Net cash flows from financing activities Cash balance, January 1 Cash balance, December 31