The comparative balance sheets for 2024 and 2023 and the statement of income for 2024 are given below for Wright Company. Additional information from Wright's accounting records is provided also. WRIGHT COMPANY Comparative Balance Sheets December 31, 2024 and 2023 ($ in thousands) 2024 2023 Assets Cash $42 $ 30 Accounts receivable 73 75 Short-term investment 40 15 Inventory 75 70 Land 50 60 Buildings and equipment 550 400 Less: Accumulated depreciation (115) (75) $715 575 Liabilities Accounts payable $28 $ 35 Salaries payable 2 5 Interest payable S 3 Income tax payable 9 12 Notes payable 0 30 Bonds payable. 160 100 Shareholders' Equity Common stock 250 200 Paid-in capital-excess of par 126 100 Retained earnings 135 90 $715 $575 WRIGHT COMPANY Income Statement For Year Ended December 31, 2024 (5 in thousands) Revenues: $380 Sales revenue Expenses: Cost of goods sold $130 Salaries expense 45 Depreciation expense 40 12 Interest expense Loss on sale of land 3 70 300 Income tax expense Net income $80 Additional information from the accounting records a Land that originally cost $10.000 was sold for $7,000. b. The common stock of Microsoft Corporation was purchased for $25,000 as a short-term investment not classified as a cash equivalent. c. New equipment was purchased for $150,000 cash d. A $30,000 note was paid at maturity on January 1. e. On January 1, 2024, bonds were sold at their $60,000 face value f. Common stock ($50,000 par) was sold for $76,000 g. Net income was $80,000 and cash dividends of $35,000 were paid to shareholders. Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2024, Present cash flows from operating activities by the direct method Note: 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, 2024 (5 in thousands) Cash flows from operating activities Cash inflows Cash outflows Net cash flows from operating activities Cash flows from investing activities S 0 Cash outflows 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 0 0 0 $ 0