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	$ 90	$ 60
Accounts receivable	100	105
Short-term investment	46	20
Inventory	102	100
Land	74	90
Buildings and equipment	585	460
Less: Accumulated depreciation	(151)	(105)
	$ 846	730
Liabilities
Accounts payable	$ 34	$ 41
Salaries payable	3	8
Interest payable	7	6
Income tax payable	9	15
Notes payable	0	25
Bonds payable	210	160
Shareholders Equity
Common stock	325	260
Paid-in capitalexcess of par	153	130
Retained earnings	105	85
	$ 846	$ 730

WRIGHT COMPANY
Income Statement
For Year Ended December 31, 2024
($ in thousands)
Revenues:
Sales revenue		$ 440
Expenses:
Cost of goods sold	$ 190
Salaries expense	55
Depreciation expense	46
Interest expense	15
Loss on sale of land	4
Income tax expense	60	370
Net income		$ 70

Additional information from the accounting records:

1. Land that originally cost $16,000 was sold for $12,000.
2. The common stock of Microsoft Corporation was purchased for $26,000 as a short-term investment not classified as a cash equivalent.
3. New equipment was purchased for $125,000 cash.
4. A $25,000 note was paid at maturity on January 1.
5. On January 1, 2024, bonds were sold at their $50,000 face value.
6. Common stock ($65,000 par) was sold for $88,000.
7. 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, 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).