THIS NEEDS TO BE FILLED OUT USING THE DIRECT METHOD and needs to mirror the attachment's structure.

Comparative balance sheets for $2024$ and $2023$ and a statement of income for $2024$ are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.

METAGROBOLIZE INDUSTRIES

Comparative Balance Sheets

December $31,2024$ and $2023$

$($$ in thousands$)$

$20242023$

Assets

Cash $ $390$ $ $170$

Accounts receivable $370200$

Inventory $520355$

Land $525500$

Building $900900$

Less: Accumulated depreciation $(250)(225)$

Equipment $2,5502,210$

Less: Accumulated depreciation $(346)(320)$

Patent $1,1001,300$

$ $5,759$ $ $5,090$

Liabilities

Accounts payable $ $620$ $ $470$

Accrued liabilities $160130$

Lease liability$$land $1300$

Shareholders' Equity

Common stock $3,1203,000$

Paid$-$in capital$$excess of par $750715$

Retained earnings $979775$

$ $5,759$ $ $5,090$

METAGROBOLIZE INDUSTRIES

Income Statement

For the Year Ended December $31,2024$

$($$ in thousands$)$

Revenues

Sales revenue $ $2,512$

Gain on sale of land $35$ $ $2,547$

Expenses

Cost of goods sold $ $820$

Depreciation expense$$building $25$

Depreciation expense$$equipment $188$

Loss on sale of equipment $15$

Amortization of patent $200$

Operating expenses $5001,748$

Net income $ $799$

Additional information from the accounting records:

Annual payments of $$20,000$ on the finance lease liability are paid each January $1,$ beginning in $2024.$

During $2024,$ equipment with a cost of $$180,000(90\%$ depreciated$)$ was sold.

The statement of shareholders' equity reveals reductions of $$155,000$ and $$440,000$ for stock dividends and cash dividends, respectively.

Required:

Prepare the statement of cash flows of Metagrobolize for the year ended December $31,2024.$ Present cash flows from operating activities by the direct method.

Note: Enter your answers in thousands $($i$.$e$.,10,000$ should be entered as $10).$ Amounts to be deducted should be indicated with a minus sign.