Comparative balance sheets for 2016 and 2015 and a statement of income for 2016 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided. METAGROBOLIZE INDUSTRIES

Comparative Balance Sheets December 31, 2016 and 2015 ($ in 000s)

2016 2015

Assets

Cash $ 460 $ 190

Accounts receivable 470 250

Inventory 620 380

Land 625 575

Building 800 800

Less: Accumulated depreciation (200) (170)

Equipment 2,800 2,510

Less: Accumulated depreciation (451) (420)

Patent 1,600 1,800

$ 6,724 $ 5,915

Liabilities

Accounts payable $ 720 $ 470

Accrued expenses payable 210 165

Lease liabilityland 150 0

Shareholders' Equity

Common stock 2,650 2,500

Paid-in capitalexcess of par 500 470

Retained earnings 2,494 2,310

$ 6,724 $ 5,915

METAGROBOLIZE INDUSTRIES

Income Statement For the Year Ended December 31, 2016 ($ in 000s)

Revenues

Sales revenue $ 2,807

Gain on sale of land 60

$ 2,867

Expenses

Cost of goods sold $ 920

Depreciation expensebuilding 30

Depreciation expenseequipment 328

Loss on sale of equipment 10

Amortization of patent 200

Operating expenses $ 600 2,088

Net income $ 779

Additional information from the accounting records:

a. During 2016, equipment with a cost of $330,000 (90% depreciated) was sold.

b. The statement of shareholders equity reveals reductions of $180,000 and $415,000 for stock dividends and cash dividends, respectively. Required: Prepare the statement of cash flows for Metagrobolize Industries using the indirect method.