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 WRIGIT COMPANY Comparative Balance Sheets December 31, 2021 and 2020 (5 in thousands) 2021 2020 $ 103 116 Assets Cash Accounts receivable Short-term investment Inventory Land Buildings and equipment Less: Accumulated depreciation 118 5 75 120 26 115 105 490 (120) 86 630 (160) $ 939 811 $ 5 3 8 9 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 40 6 6 12 28 190 246 290 145 330 173 135 $939 $811 Income Statement For Year Ended December 31, 2021 (5 in thousands) Revenues Sales revenge $ 520 Expenses Cast of goods sold $ 220 Salaries expense 73 Depreciation expense 49 Interest expense 18 Loss sale of land 4 Income tax expense 66 430 Net income $ 90 Additional Information from the accounting records: a. Land that originally cost $19,000 was sold for $15,000. b. The common stock of Microsoft Corporation was purchased for $29.000 as a short-term investment not classified as a cash equivalent. c. New equipment was purchased for $140,000 cash. d. A $28.000 note was paid at maturity on January 1. e. On January 1, 2021, bonds were sold at their $56.000 face value. 1. Common stock ($40,000 par) was sold for $68,000. g. Net income was $90,000 and cash dividends of $45,000 were paid to shareholders. requirea: 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 af Cash Flows For the year ended December 31, 2021 15 in thousanda) Cash flows from operating activities Cashows From customers Cash outllows To suppliers of goods To employees For interest For income taxes $ 0 Nor cash flows from operating activities Cash flows from investing activities Sale of land Purchase of equipment Ner cash flows from investing activities 0 Sale of land Purchase of equipment 0 Net cash flows from investing activities Cash flows from financing activities Sale of bonds payable Payment of dividends Purchase of short-term investment 0 Net cash flows from financing activities Nel increase (decrease) in cash Cash balance, January 1 Cash balance December 31 $ 0