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 $ 5e 39 WRIGHT COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in eees) 2018 Assets Cash $ 84 Accounts receivable Short-term investment Inventory 96 Land Buildings and equipment 555 Less: Accumulated depreciation (139) $ 792 Liabilities Accounts payable $ 31 Salaries payable Interest payable Income tax payable 8 Notes payable Bonds payable 186 Shareholders' Equity Common stock 149 Paid-in capital-excess of par 116 Retained earnings 16 90 8e 440 (95) $ 39 140 295 24e 120 91 15 E Mart Ksiyent #IU Saved 13 23 Interest payable Income tax payable Notes payable Bonds payable Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 186 148 295 149 116 240 120 91 $ 676 $ 792 $ 4ee WRIGHT COMPANY Income Statement For Year Ended December 31, 2018 ($ in 988) Revenues: Sales revenue Expenses: Cost of goods sold $ 170 Salaries expense Depreciation expense Interest expense 13 Loss on sale of land Income tax expense 56 Net income 330 $ 70 Additional Information from the accounting records: Additional information from the accounting records: Help Save & Exh Submit 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 classified 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. f. Common stock ($55,000 par) was sold for $84.000 g. Net Income was $70,000 and cash dividends of $45.000 were paid to shareholders. Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 5,000 should be entered as 5).) WRIGHT COMPANY Statement of Cash Flows For year ended December 31, 2018 ($ in 000s) Cash flows from operating activities: Cash inflows: From customers JE TO Saved Cash flows from operating activities: Cash inflows: From customers Cash outflows: Net cash flows from operating activities. Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Prey 1 of 15 Next >