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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 CORPS Comparative ancohet December 31, 2021 and 2016 18 I thousands 2021 Asset Call $ 109 $ 70 Accounts receivable 110 115 Short-term investment 52 24 Tnventory 115 110 tand 02 100 Bustdings and equipment 480 A Accumulated depreciation 1163 (115) 5920 780 Liabilities Accounts payable 3 35 6 4 Salarios payable Interest payable 7 5 Income tax payable 2 31 Notes payable 0 27 Bonde payable 236 100 Shareholders alty Coom stock 355 200 Paid-in capital-excess of par 161 160 Retained warnings 115 90 5920 $780 615 WRIGHT COMPANY The statement Tor Year Ended December 11. 2031 in thousand Mars sales revenge $460 Espesso Coat ot goods sold $ 210 MOTORT COMPANY The statement Tor Year indad December 31, 2021 $ in thousands Ravens Bales revenue $460 Expans Coat of goods sold $ 210 salaries expense 67 Depreciation expense Interest expense 17 Loss on sale of land Income tax expense 64 410 Wat Leon #50 Additional Information from the accounting records. a. Land that originally cost $18,000 was sold for $14,000, b. The common stock of Microsoft Corporation was purchased for $28,000 as a short-term investment not classified as a cash equivalent New equipment was purchased for $135,000 cash d. A $27.000 note was paid at maturity on January On January 1, 2021. bonds were sold at their $54,000 face value 1. Common stock ($75,000 par was sold for $96,000. 9. Net income was $50,000 and cash dividends of $25,000 were paid to shareholders Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2021. Present cath flows from operating activities by the direct method Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (1.e. 10,000 should be entered os 10).) WRIGHT COMPANY statement of Cash Flows For the year and December 31, 2021 In thound) Cash flows from operating activities: Cash in/lows: Cash outlows: $ 0 Net cash flows from operating activities. Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Cash outlows: $ Net cash flows from operating activities. Cash flows from investing activities: 0 Net cash flows from investing activities Cash flows from financing activities: 0 Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31

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