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 (5 in 888s) 2018 2017 182 5 106 65 ne Assets Cash Accounts receivable Short-term investment Inventory Land Buildings and equipment Less: Accumulated depreciation 199 185 78 95 6.00 (157) 687 470 (110) 757 $ 36 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable Shareholders' Equity Common stock Paid in capitol-excess of par Retained earnings 222 135 155 117 5 887 5 WRIGHT COMPANY Assignment #10 i Seved $ 450 WRIGHT COMPANY Income Statement For Year Ended December 31, 2018 (s in 2005) Revenues: Sales revenue Expenses: Cost of goods sold $ 200 Salaries expense Depreciation expense Interest expense Loss on sale of land Income tax expense Net income Additional information from the accounting records a. Land that originally cost $17,000 was sold for $12,000. b. The common stock of Microsoft Corporation was purchased for $27,000 as a short-term investment not classified as a cash equivalent. c. New equipment was purchased for $130,000 cash. d. A $26.000 note was paid at maturity on January 1 e On January 1, 2018, bonds were sold at their $52.000 face value f. Common stock ($70,000 par) was sold for $90,000 g. Net income was $70,000 and cash dividends of $45.000 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 Prev 1 of 15 Next > INI Cachows from operating activities fra D TATAMIZHALE (210) EBELES(53) PHILIPP (13) FEES SEE EEES s Net cash flows from operating activit es Cash flows from investing activities: 12 (27) ) EEEEEEEEEEEEEE HEEEE FREE EEEEEEEEEEEE (145) Net cash rows from investing activities Cash flows from financing activities 8188 . BRE (45) ......, . Ner cash flows from fina Casa balance, January 1, sa ba ance Decen 889 Cash ba a