Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Metagrobolize Industrie Additional information from the accounting records of Metagrobolize also is provided METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2018 and 2017 ($ in 999) 2018 2017 $ 245 Ask Print Assets Cash Accounts receivable Inventory Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Patent $ 405 350 See See 900 (200) 2,500 (325) 1.000 $ 5,630 erences 275 450 990 (188) 2,150 (300) 1,150 $ 4,880 $ $ 600 600 15e 13e 400 130 Liabilities Accounts payable Accrued expenses payable Lease liability-land Shareholders' Equity Common stock Poid-in capital-excess of par Retained earnings 3,000 3,100 750 900 $ 5,630 700 650 $ 4,888 METAGROBOLIZE INDUSTRIES Assignment #10 i Help Save & Exit Sub $2,585 MET AGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2018 (s in oees) Revenues Sales revenue Gain on sale of land Expenses Cost of goods sold Depreciation expense-building Depreciation expense-equipment Loss on sale of equipment Amortization of patent Operating expenses Net income 35$ Additional information from the accounting records a. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2018 b. During 2018, equipment with a cost of $150.000 (90% depreciated) was sold c. The statement of shareholders' equity reveals reductions of $150.000 and $445,000 for stock dividends and cash dividends. respectively Required: Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Enter your answers in thousands (ie.. 5,000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign.) TACONDOLIZEI 3 of 15 Cash flows from operating activities Cashindows From customers 5 2,395 Cash outflows To suppliers of goods To employees (825) (580) $ 990 Net cash flows from operating activities Cash flows from investing activities Purchase of equipment Sale of land Sale of equipment (500) 130 5 (365) Net cash flows from investing activities Cash flows from financing activities: Payment of cash dividends Payment on lease liability (445) (20) Net cash flows from financing activities Net increase in cash Cash balance, December 31 Cash balance. January 1 Noncash investing and financing activities (405) 100 245 4 5