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 wees) 2018 2017 405 Assets Cash Accounts receivable Inventory Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Patent 350 5e9 see 900 (200) 2,500 (325) 1,800 $ 5,630 245 199 275 450 900 (180) 2,150 (380) 1,150 4.880 $ $ $ 600 150 130 400 130 Liabilities Accounts payable Accrued expenses payable Lease liability-land Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 3,100 750 900 $ 5,630 3,000 780 650 $ 4,880 ME TAGROBOLIZE INDUSTRIES signment #10 Saved Help Save METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2018 ($ in eees) Revenues Sales revenue $2,555 Gain on sale of land 30 $2,585 Expenses Cost of goods sold $ 800 Depreciation expense-building Depreciation expense-equipment 160 Loss on sale of equipment Amortization of patent Operating expenses 600 1.740 Net income 845 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 (i.e.. 5,000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign.) arch Ofte 9 SW AD signment #10 0 Saved METAGROBOLIZE INDUSTRIES Statement of Cash Flows For year ended December 31, 2018 (S in 000s) Cash inflows: m ... Cash outflows: . $ 0 - Noncash investing and financing activities: