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 $ 102 $ 65 Accounts receivable 106 110 Short-term investment 49 22 Inventory 109 105 Land 78 95 Buildings and equipment 600 470 Less: Accumulated depreciation (157) (110) $ 887 757 Liabilities Accounts payable $ 36 $ 42 Salaries payable 4 7 Interest payable 8 5 Income tax payable 5 10 Notes payable 0 26 Bonds payable 222 170 Shareholders Equity Common stock 340 270 Paid-in capitalexcess of par 155 135 Retained earnings 117 92 $ 887 $ 757 WRIGHT COMPANY Income Statement For Year Ended December 31, 2024 ($ in thousands) Revenues: Sales revenue $ 450 Expenses: Cost of goods sold $ 200 Salaries expense 50 Depreciation expense 47 Interest expense 16 Loss on sale of land 5 Income tax expense 62 380 Net income $ 70 Additional information from the accounting records: Land that originally cost $17,000 was sold for $12,000. The common stock of Microsoft Corporation was purchased for $27,000 as a short-term investment not classified as a cash equivalent. New equipment was purchased for $130,000 cash. A $26,000 note was paid at maturity on January 1. On January 1, 2024, bonds were sold at their $52,000 face value. Common stock ($70,000 par) was sold for $90,000. Net income was $70,000 and cash dividends of $45,000 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).