Comparative balance sheets for 2024 and 2023 and a statement of income for 2024 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided. METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2024 and 2023 ($ in thousands) 2824 2823 Assets Cash $ 410 $ 150 Accounts receivable 410 220 Inventory Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Patent 560 365 575 538 900 980 (208) (165) 2,650 2,338 (388) (368) 1,300 1,600 $ 6,217 $ 5,570 Liabilities Accounts payable Accrued liabilities $ 660 Shareholders' Equity Lease liability-land Common stock Paid-in capital-excess of par Retained earnings 580 1,587 3,000 495 1,585 $ 6,217 $ 5,570 180 130 3,160 $ 360 138 $ 2,551 45 $ 2,596 Revenues Sales revenue METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2024 Gain on sale of land Expenses Cost of goods sold ($ in thousands) Depreciation expense-building Depreciation expense-equipment Loss on sale of equipment Amortization of patent Operating expenses Net income $ 868 35 244 10 558 1,999 $ 597 Additional information from the accounting records: a. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2024. b. During 2024, equipment with a cost of $240,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $165,000 and $430,000 for stock dividends and cash dividends, respectively. Required: Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2024. Present cash flows from operating activities by the direct method. Note: 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 the year ended December 31 2024