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, 2018 and 2017 ($ in 000s) 2018 2017 Assets Cash $ 127 $ 115 Accounts receivable 157 160 Short-term investment 59 22 Inventory 159 155 Land 118 145 Buildings and equipment 755 570 Less: Accumulated depreciation (217) (160) $1,158 1,007 Liabilities Accounts payable $ 48 $ 52 Salaries payable 4 8 Interest payable 8 8 6 Income tax payable 9 14 Notes payable 0 37 Bonds payable 344 270 Shareholders' Equity Common stock 430 370 Paid-in capital-excess of par 215 185 Retained earnings 100 65 $1,158 $1,007 WRIGHT COMPANY Income Statement For Year Ended December 31, 2018 ($ in 000s) Revenues : Sales revenue $ 660 Expenses : Cost of goods sold $ 300 Salaries expense 92 Depreciation expense 57 Interest expense 20 Loss on sale of land 3 Income tax expense 98 570 Net income $ 90 Additional information from the accounting records: a. Land that originally cost $27,000 was sold for $24,000. b. The common stock of Microsoft Corporation was purchased for $37,000 as a short-term investment not classified as a cash equivalent. c. New equipment was purchased for $185,000 cash. d. A $37,000 note was paid at maturity on January 1. e. On January 1, 2018, bonds were sold at their $74,000 face value. f. Common stock ($60,000 par) was sold for $90,000. g. Net income was $90,000 and cash dividends of $55,000 were paid to shareholders. Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 5,000 should be entered as 5).) WRIGHT COMPANY Statement of Cash Flows For year ended December 31, 2018 ($ in 000s) Cash flows from operating activities: Cash inflows: Cash outflows: Net cash flows from operating activities. Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Cash balance, January 1 Cash balance, December 31