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 (s in 000s) 2018 2017 Assets Cash Accounts receivable Short-term investment Inventorv $ 130 120 165 24 160 150 580 163 162 122 770 (223) (165) an Buildings and equipment Less: Accumulated depreciation $1,186 1,034 Liabilities Accounts pavable Salaries pavable Interest pavable Income tax payable Notes payable Bonds payable Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings $ 50 53 15 38 280 356 380 190 67 $1,186 $1,034 445 217 97 WRIGHT COMPANY Income Statement For Year Ended December 31, 2018 (s in 000s) Revenues: Sales revenue 660 Expenses: Cost of goods sold Salaries expense Depreciation expense Interest expense Loss on sale of land Income tax expense s 310 94 58 10 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, 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).) WRIGHT COMPANY Statement of Cash Flows For year ended December 31, 2018 (S 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 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