The comparative balance sheets for 2024 and 2023 and the statement of income for 2024 are given below for Wright Company. Additional information from Wright's accounting records is provided also.

WRIGHT COMPANY
Comparative Balance Sheets
December 31, 2024 and 2023
($ in thousands)
	2024	2023
Assets
Cash	$ 84	$ 50
Accounts receivable	91	95
Short-term investment	39	16
Inventory	96	90
Land	66	80
Buildings and equipment	555	440
Less: Accumulated depreciation	(139)	(95)
	$ 792	676
Liabilities
Accounts payable	$ 31	$ 39
Salaries payable	2	6
Interest payable	5	4
Income tax payable	8	13
Notes payable	0	23
Bonds payable	186	140
Shareholders Equity
Common stock	295	240
Paid-in capitalexcess of par	149	120
Retained earnings	116	91
	$ 792	$ 676

WRIGHT COMPANY
Income Statement
For Year Ended December 31, 2024
($ in thousands)
Revenues:
Sales revenue		$ 400
Expenses:
Cost of goods sold	$ 170
Salaries expense	43
Depreciation expense	44
Interest expense	13
Loss on sale of land	4
Income tax expense	56	330
Net income		$ 70

Additional information from the accounting records:

1. Land that originally cost $14,000 was sold for $10,000.
2. The common stock of Microsoft Corporation was purchased for $23,000 as a short-term investment not classified as a cash equivalent.
3. New equipment was purchased for $115,000 cash.
4. A $23,000 note was paid at maturity on January 1.
5. On January 1, 2024, bonds were sold at their $46,000 face value.
6. Common stock ($55,000 par) was sold for $84,000.
7. Net income was $70,000 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, 2024. Present cash flows from operating activities by the direct method.

WRIGHT COMPANY Statement of Cash Flows For the year ended December 31, 2024 ( $ in thousands) Cash flows from operating activities: Cash inflows: \begin{tabular}{|l|l|} \hline From customers & \\ \hline Cash outflows: & \\ \hline To suppliers of goods & \\ \hline To employees & \\ \hline For interest & \\ \hline For income taxes & \\ \hline & \\ \hline \end{tabular} Net cash flows from operating activities. Cash flows from investing activities