The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Wright Company Additional information from Wright's accounting records is provided also. WRIGHT COMPANY Comparative Balance Sheets December 31, 2021 and 2828 (5 in thousands) 2021 2020 $ Assets Cash Accounts receivable Short-term investment Inventory Land Buildings and equipment Less: Accumulated depreciation 80 125 28 120 $ 96 122 58 124 90 645 (175) $ 960 110 500 (125) 838 $ $ Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable Shareholders' Equity Common stock 37 4 7 8 e 258 45 6 4 13 29 288 345 308 SE Check my work Common stock Paid-in capital-excess of par Retained earnings 345 170 131 $ 960 300 15e 91 $ 838 WRIGHT COMPANY Income Statement For Year Ended December 31, 2021 (5 in thousands) Revenuest Sales revenue $ 560 Expenses: Cost of goods sold $ 230 Salaries expense 98 Depreciation expense 50 Interest expense 19 Loss on sale of land 5 Income tax expense 68 470 Net incone $ 90 Additional information from the accounting records a. Land that originally cost $20,000 was sold for $15,000 b. The common stock of Microsoft Corporation was purchased for $30,000 as a short-term investment not classified as a cash Check my work b. The common stock of Microsoft Corporation was purchased for $30,000 as a short-term investment not classified as a cash equivalent c. New equipment was purchased for $145,000 cash d. A $29,000 note was paid at maturity on January 1 e On January 1, 2021. bonds were sold at their $58,000 face value Common stock ($45,000 par) was sold for $65,000. 9. Net income was $90,000 and cash dividends of $50,000 were paid to shareholders Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2021. Presencash 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., 10,000 should be entered as 10).) WRIGHT COMPANY Statement of Cash Flows For the year ended December 31, 2021 (s in thousands) Cash flows from operating activities: Cash inflows Cash outflows Cash flows from operating activities: Cash inflows: Cash outflows: To suppliers of goods To employees For interest For income taxes $ 0 Net cash flows from operating activities. Cash flows from investing activities: Purchase of short-term investment Purchase of equipment Sale of land Net cash flows from investing activities 0