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 2020 ($ in thousands) 2021 2020 Assets Cash 72 $ 35 Accounts receivable 29 80 Short-term investment 30 10 Inventory Land 79 75 54 65 Buildings and equipment 510 410 Loss: Accumulated depreciation (121) (80) $ 703 595 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings $ 27 $ 36 4 6 5 2 6 10 201 150 110 250 210 145 105 116 96 G 703 $ 595 WRIGHT COMPANY Income Statement For Year Ended December 31, 2021 ( in thousanda) Revenues1 Sales revenue Expensoni Coat of goods sold $350 $140 Salaries expense 53 Depreciation expense 41 Interest expense 10 Lone on sale of land Income tax expense 50 300 Net income 650 A Additional Information from the accounting records a. Land that originally cost $11,000 was sold for $5,000. b. The common stock of Microsoft Corporation was purchased for $20,000 as a short-term investment not classified as a cash equivalent c. New equipment was purchased for $100,000 cash. d. A $20,000 note was paid at maturity on January 1, e. On January 1, 2021, bonds were sold at their $40,000 face value. f. Common stock ($40,000 par) was sold for $80,000. g. Net income was $50,000 and cash dividends of $30,000 were paid to shareholders. Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000 should be entered as 10).) JUDIOUT SOUDUIN Net cash flows from operating activities. Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31 WRIGHT COMPANY Statement of Cash Flows For the year ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Cash inflows: Cash outflows: Net cash flows from operating activities. Cash flows from investing activities