Comparative balance sheets for $2024$ and $2023$ and a statement of income for $2024$ are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.

METAGROBOLIZE INDUSTRIES

Comparative Balance Sheets

December $31,2024$ and $2023$

$($$ in thousands$)$

$20242023$

Assets

Cash $ $550$ $ $340$

Accounts receivable $690360$

Inventory $840435$

Land $650600$

Building $900900$

Less: Accumulated depreciation $(300)(265)$

Equipment $3,3503,170$

Less: Accumulated depreciation $(502)(460)$

Patent $1,7001,950$

$ $7,878$ $ $7,030$

Liabilities

Accounts payable $ $940$ $ $790$

Accrued liabilities $320255$

Lease liability$$land $1300$

Shareholders' Equity

Common stock $3,6603,500$

Paid$-$in capital$$excess of par $800725$

Retained earnings $2,0281,760$

$ $7,878$ $ $7,030$

METAGROBOLIZE INDUSTRIES

Income Statement

For the Year Ended December $31,2024$

$($$ in thousands$)$

Revenues

Sales revenue $ $3,224$

Gain on sale of land $75$ $ $3,299$

Expenses

Cost of goods sold $ $1,140$

Depreciation expense$$building $35$

Depreciation expense$$equipment $636$

Loss on sale of equipment $25$

Amortization of patent $250$

Operating expenses $3502,436$

Net income $ $863$

Additional information from the accounting records:

Annual payments of $$20,000$ on the finance lease liability are paid each January $1,$ beginning in $2024.$

During $2024,$ equipment with a cost of $$660,000(90\%$ depreciated$)$ was sold.

The statement of shareholders' equity reveals reductions of $$235,000$ and $$360,000$ for stock dividends and cash dividends, respectively.

Required:

Prepare the statement of cash flows of Metagrobolize for the year ended December $31,2024.$ Present cash flows from operating activities by the direct method.

Note: 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.