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. 2020 S 60 20 100 90 460 WRIGHT COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 Assets Cash $ 00 Accounts receivable 100 Short-term investment 46 Tnventory 102 Land 94 Buildings and equipment 505 Les Accumulated depreciation (251) BAG Liabilities Accounts payable $ 34 Salarios payable Interest payable 7 Tecome tax payable 2 Notes payable Bonds payable 210 Shareholders' Equity Comon stock Paid-in capital excess of par 15 Retained earnings 105 $ 846 (105) 730 3 41 15 25 160 325 260 130 85 $ 230 $440 Income Statement For Year Ended December 31, 2021 (5 in thousands) Revenues Sales revenue Expenses: Cost of goods sold $ 190 Salaries expense 55 Depreciation expense 46 Interest expense 15 Loss on sale of land Income tax expense Net income $ 70 Additional information from the accounting records a. Land that originally cost $16,000 was sold for $12.000, b. The common stock of Microsoft Corporation was purchased for $26,000 as a short-term investment not classified as a cash equivalent New equipment was purchased for $125.000 cash d. A $25,000 note was paid ot maturity on January 1 e. On January 1, 2021, bonds were sold at their $50,000 face value 1. Common stock ($65,000 par) was sold for $88,000 9. Net income was $70,000 and cash dividends of $50,000 were paid to shareholders. Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 10.000 should be entered as 10).) Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000 should be entered as 10).) WRIGHT COMPANY Statement of Cash Flows For the year ended December 31, 2021 ($ in thousands) Cash flows from operating activities Cash flows Cash outflows $ 0 Net cash flows from operating activities Cash flows from investing activities $ 0 Vet cash flows from operating activities Cash flows from investing activities 0 Net cash flows from investing activities Cash flows from financing activities 0 Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31 $ 0