Comparative balance sheets for 2018 and 2017 and a statement of Income for 2018 are given below for Metagrobolize Industries. Additional Information from the accounting records of Metagrobolize also is provided METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2018 and 2017 (s in 000s) 2018 2017 Assets Cash Accounts receivable Inventory Land Building $ 440 190 470 620 625 800 250 380 575 800 (170) 2,510 Less: Accumulated depreciation (200) Equipment 2,800 Less: Accumulated depreciation (451) (420) Patent 1,600 S 6,704 1,800 S 5,915 Liabilities Accounts payable Accrued expenses payable Lease liability-land Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings $ 720 470 210 130 165 2,650 2,500 470 2,310 500 2,494 S 6,704 5,915 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2018 $in 000s) Revenues Sales revenue Gain on sale of land $2,807 60 $2,867 Expenses Cost of goods sold Depreciation expense-building Depreciation expense-equipment Loss on sale of equipment Amortization of patent Operating expenses $ 920 30 328 10 200 600 2,088 $ 779 Net income METAGROBOLIZE INDUSTRIES Statement of Cash Flows For year ended December 31, 2018 ($ in 000s) Cash inflows: Cash outflows Noncash investing and financing activities