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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	$	121			$	105
Accounts receivable		148				150
Short-term investment		53				18
Inventory		148				145
Land		110				135
Buildings and equipment		725				550
Less: Accumulated depreciation		(205	)			(150	)
	$	1,100				953
Liabilities
Accounts payable	$	42			$	50
Salaries payable		4				8
Interest payable		9				7
Income tax payable		9				12
Notes payable		0				35
Bonds payable		320				250
Shareholders Equity
Common stock		420				350
Paid-in capitalexcess of par		195				175
Retained earnings		101				66
	$	1,100			$	953

WRIGHT COMPANY Income Statement For Year Ended December 31, 2021 ($ in thousands)
Revenues:
Sales revenue				$	620
Expenses:
Cost of goods sold	$	280
Salaries expense		88
Depreciation expense		55
Interest expense		18
Loss on sale of land		5
Income tax expense		94			540
Net income				$	80

Additional information from the accounting records:

1. Land that originally cost $25,000 was sold for $20,000.
2. The common stock of Microsoft Corporation was purchased for $35,000 as a short-term investment not classified as a cash equivalent.
3. New equipment was purchased for $175,000 cash.
4. A $35,000 note was paid at maturity on January 1.
5. On January 1, 2021, bonds were sold at their $70,000 face value.
6. Common stock ($70,000 par) was sold for $90,000.
7. Net income was $80,000 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, 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).)

JUST NEED HELP ON THE ONES THAT ARE INCORRECT. I CANNOT FIGURE IT OUT.

PLEASE INCLUDE FORMULAS FOR HOW YOU DID. THANK YOU.

WRIGHT COMPANY Statement of Cash Flows For the year ended December 31, 2021 ($ in thousands) Cash flows from operating activities Cash inflows: From customers IS 80 X Cash outflows: To suppliers of goods To employees For income taxes For interest Oooo Net cash flows from operating activities. Cash flows from investing activities: Purchase of short-term investment Purchase of equipment Sale of land (35) OOO (175) 20 (190) Net cash flows from investing activities Cash flows from financing activities: Sale of bonds payable Sale of common stock Payment of dividends Repayment of notes payable 70 90 (45) (35) 80 Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31 16 105 121

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