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The comparative bale heets for 2018 and 2017 and the statement of income for 2018 are viven below for Wright Company Additional information from Wrighting records is provided aho d WRIGHT COMPANY Comparative Balance Sheets December , 2018 2017 in thousands 2018 2017 Assets Cash Accounts receivable Short term investment Inventory Land Buildings and equipment Less: Accumulated deprecato 542 73 40 75 50 550 (115 5715 $ 30 75 15 70 60 400 75 $575 $ 35 5 528 2 5 9 Lates Accounts per Salaties payable Interest payable Income tax payable Notes payable Gonds payable Shareholdes Equity Common stock Paldin capitales of per Retained ning 12 30 100 160 250 126 135 $715 200 100 90 $575 $380 WRIGHT COMPANY Income Statement For Year Ended December 31, 2018 in thousands Revenue Sales revenue Expenses Cost of goods sold $130 45 Salaries expense Depreciation expense 40 Interest expense 12 Loss on sale of land 3 Income tax expense 70 Net income 300 $ 80 Aldanimal information from the accounting record Land the originally cost $10.000 was told 57,030. The common stock of Mice Corporate was pused for S35.000 as a short-term investment netelor wified as a cash equivalent New equipment was purchased for S150,000 d A5M1,000 note was paid at maturity on January 1 c. On January 1, 2018, bonds were sold at their S.G.000 face value 1. Common stock (550,000 was sold for $76.000 Net income was 580,000 and cash dividends of 535.000 were paid to shareholders Required Prepare the statement of cash flows of Wrigh Company for the year endel December 31, 2018. Present cath iew from operating activities by the direct method. (Youtube to concile net income with casi lows from operating activities

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