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 $ $540$ $ $285$

Accounts receivable $670350$

Inventory $820430$

Land $600570$

Building $900900$

Less: Accumulated depreciation $(250)(220)$

Equipment $3,3003,110$

Less: Accumulated depreciation $(481)(440)$

Patent $1,6001,800$

$ $7,699$ $ $6,785$

Liabilities

Accounts payable $ $920$ $ $720$

Accrued liabilities $310250$

Lease liability$$land $1300$

Shareholders' Equity

Common stock $3,6403,500$

Paid$-$in capital$$excess of par $550460$

Retained earnings $2,1491,855$

$ $7,699$ $ $6,785$

METAGROBOLIZE INDUSTRIES

Income Statement

For the Year Ended December $31,2024$

$($$ in thousands$)$

Revenues

Sales revenue $ $3,152$

Gain on sale of land $70$ $ $3,222$

Expenses

Cost of goods sold $ $1,120$

Depreciation expense$$building $30$

Depreciation expense$$equipment $608$

Loss on sale of equipment $25$

Amortization of patent $200$

Operating expenses $3502,333$

Net income $ $889$

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 $$630,000(90\%$ depreciated$)$ was sold.

The statement of shareholders' equity reveals reductions of $$230,000$ and $$365,000$ 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.