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 $ 490 $ 280 Accounts receivable 570 300 Inventory 720 405 Land 750 720 Building 700 700 Less: Accumulated depreciation (300) (260) Equipment 3,050 2,810 Less: Accumulated depreciation (376) (340) Patent 1,100 1,300 $ 6,704 $ 5,915 Liabilities Accounts payable $ 820 $ 520 Accrued liabilities Lease liability-land Shareholders' Equity Common stock 260 225 130 0 2,680 2,500 Paid-in capital-excess of par Retained earnings 600 2,214 575 2,095 $ 6,704 $ 5,915 Revenues METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 Sales revenue ($ in thousands) 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 $ 2,777 85 $ 2,862 1,020 40 468 20 200 400 2,148 $ 714 Additional information from the accounting records: a. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2021. b. During 2021, equipment with a cost of $480,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $205,000 and $390,000 for stock dividends and cash dividends, respectively. Required: Prepare the statement of cash flows for Metagrobolize Industries using the indirect method. (Enter your answers in thousands (i.e., 10,000 should be entered as 10).) Amounts to be deducted should be indicated with a minus sign.) METAGROBOLIZE INDUSTRIES Statement of Cash Flows For year ended December 31, 2021 Cash flows from operating activities: Net income Adjustments for noncash effects: ($ in 000s) $ 714 Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities: $ 714 Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Cash balance, January 1 Cash balance, December 31 0 0 $ 0 Noncash investing and financing activities