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Comparative balance sheets for 2021 and 2020 and a statement of income for 2021 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided. METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020 Assets Cash $ 530 $ 255 Accounts receivable 650 340 Inventory 800 425 Land 600 555 Building 900 900 Less: Accumulated (200) (175) depreciation Equipment 3,250 3,050 Less: Accumulated (460) (420) depreciation Patent 1,500 1,650 $7,570 $6,580 Liabilities Accounts payable $ 900 $ 600 Accrued liabilities 300 245 Lease liability-land 130 Shareholders' Equity Common stock 3,620 3,500 Paid-in capital-excess 550 445 of par Retained earnings 2,070 1,790 $7,570 $6,580 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $3,040 Gain on sale of land __ 65 $3,105 Expenses Cost of goods sold $1,100 Depreciation expense- 25 building Depreciation expense- 580 equipment Loss on sale of 25 equipment Amortization of patent 150 Operating expenses 350 2,230 Net income $ 875 Additional information from the accounting records: a. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2021. b. During 2021, equipment with a cost of $600,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $225,000 and $370,000 for stock dividends and cash dividends, respectively. Required: Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Enter your answers in thousands (i.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.) METAGROBOLIZE INDUSTRIES Statement of Cash Flows For the year ended December 31, 2021 ($ 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 Noncash investing and financing activities: $

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