Comparative balance sheets for 2021 and 2020 and a statement of income for 2021 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.

METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands)
		2021			2020
Assets
Cash	$	1,245			$	565
Accounts receivable		980				640
Inventory		1,280				715
Land		1,055				790
Building		1,280				1,280
Less: Accumulated depreciation		(680)				(460)
Equipment		3,230				2,440
Less: Accumulated depreciation		(905)				(670)
Patent		1,580				2,070
	$	9,065			$	7,370
Liabilities
Accounts payable	$	1,130			$	640
Accrued liabilities		680				510
Lease liabilityland		510				0
Shareholders' Equity
Common stock		3,340				3,190
Paid-in capitalexcess of par		1,130				960
Retained earnings		2,275				2,070
	$	9,065			$	7,370

METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands)
Revenues
Sales revenue	$	3,928
Gain on sale of land		109		$	4,037
Expenses
Cost of goods sold	$	790
Depreciation expensebuilding		220
Depreciation expenseequipment		676
Loss on sale of equipment		34
Amortization of patent		490
Operating expenses		690			2,900
Net income				$	1,137

Additional information from the accounting records:

1. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2021.
2. During 2021, equipment with a cost of $490,000 (90% depreciated) was sold.
3. The statement of shareholders' equity reveals reductions of $320,000 and $612,000 for stock dividends and cash dividends, respectively

Required: Prepare the T-accounts for Metagrobolize Industries. (Enter your answers in thousands. (i.e., 10,000 should be entered as 10).)

Accounts Receivable 640 Beg. Bal. Amortization of patent Beg. Bal Amortization of patent Inventory 715 1,355 3,928 3,588 From customers 790 Amortization End. Bal. 980 End. Bal 1,280 Land Accumulated Depreciation - Buildings 460 790 Beg. Bal. Beg. Bal. Noncash investing and financing activity 530 265 Sale of land 220 Depreciation End. Bal. 1,055 End. Bal. 680 Equipment 2,440 1,280 Beg. Bal. Purchase of equipment Beg. Bal Accumulated Depreciation - Equipment 670 441 676 Depreciation 490 Sale of equipment Amortization of patent End. Bal. 3,230 End. Bal. 905 Patent Beg. Bal. 2,070 Beg. Bal To suppliers Accounts Payable 640 865 1,355 Amortization 490 Amortization of patent End. Bal. 1,580 End. Bal. 1,130 Accrued Liabilities Beg. Bal. 510 690 Amortization of patent Beg. Bal Payment on lease Lease Liability - Land 0 20 530 Noncash inve For expenses 520 End. Bal. 680 End. Bal. 510 Common Stock Paid-in Capital Beg. Bal. 3,190 Beg. Bal 960 150 Payment of stock dividend 170 Payment of s End. Bal. 3,340 End. Ball 1,130 Sales Beg. Bal 3,928 Beg. Bal Payment of dividends Payment of stock dividend End. Bal. Retained Earnings 2,070 320 1,137 Net income 612 2.275 End. Bal. 3,928 Gain on Sale of Land Cost of Goods Sold 790 Beg. Bal. 109 Beg. Bal End. Bal. 109 End. Bal. 790 Depreciation Expense - Building 220 Depreciation Expense - Equipment 676 Beg. Bal. Beg. Bal End. Bal. 220 End. Bal. 676 Loss on Sale of Equipment Amortization Expense Beg. Bal. 34 Beg. Bal 490 End. Bal. 34 End. Bal. 490 Net Income (Income Summary) Operating Expenses 690 Beg. Bal. Beg. Bal 1,137 Net income 1,137 End. Bal. 690 End. Bal. Building 1,280 Beg. Bal. End. Bal. 1,280