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)20212020AssetsCash$560$370Accounts receivable710370Inventory860440Land700670Building900900Less: Accumulated depreciation(200)(160)Equipment3,4003,230Less: Accumulated depreciation(343)(300)Patent1,8002,100$8,387$7,620LiabilitiesAccounts payable$960$710Accrued liabilities330260Lease liabilityland1300Shareholders' EquityCommon stock3,6803,500Paid-in capitalexcess of par800740Retained earnings2,4872,410$8,387$7,620

METAGROBOLIZE INDUSTRIES

Income Statement

For the Year Ended December 31, 2021

($ in thousands)RevenuesSales revenue$3,131Gain on sale of land80$3,211ExpensesCost of goods sold1,160Depreciation expensebuilding40Depreciation expenseequipment664Loss on sale of equipment25Amortization of patent300Operating expenses3502,539Net income$672

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 $690,000 (90% depreciated) was sold.
3. The statement of shareholders' equity reveals reductions of $240,000 and $355,000 for stock dividends and cash dividends, respectively.

Required:

Prepare the statement of cash flows for Metagrobolize Industries using theindirect 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.)