WRIGHT COMPANY
Statement of Cash Flows
For the year ended December 31, 2021
($ in thousands)
Cash flows from operating activities:
Cash inflows:
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

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. WRIGHT COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020 Assets Cash $ 96 $ 80 Accounts receivable 125 Short-term investment 28 Inventory Land Buildings and equipment 645 500 Less: Accumulated depreciation (175) (125) 122 58 124 90 120 110 $ 960 838 $ $ 37 4 $ $ 478m 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 45 6 4 13 29 200 0 258 345 170 131 300 150 91 $ 960 $ 838 $ 560 WRIGHT COMPANY Income Statement For Year Ended December 31, 2021 ($ in thousands) Revenues: Sales revenue Expenses: Cost of goods sold $ 230 Salaries expense Depreciation expense 50 Interest expense 19 Loss on sale of land 5 Income tax expense 68 Net income 98 470 $ 90 Additional information from the accounting records: a. Land that originally cost $20,000 was sold for $15,000. b. The common stock of Microsoft Corporation was purchased for $30,000 as a short-term investment not classified as a cash equivalent. c. New equipment was purchased for $145,000 cash. d. A $29,000 note was paid at maturity on January 1. e. On January 1, 2021, bonds were sold at their $58,000 face value. f. Common stock ($45,000 par) was sold for $65,000. g. Net income was $90,000 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, 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).)