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)
	2024	2023
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	260	225
Lease liabilityland	130	0
Shareholders' Equity
Common stock	2,680	2,500
Paid-in capitalexcess of par	600	575
Retained earnings	2,214	2,095
	$ 6,704	$ 5,915

METAGROBOLIZE INDUSTRIES
Income Statement
For the Year Ended December 31, 2024
($ in thousands)
Revenues
Sales revenue	$ 2,777
Gain on sale of land	85	$ 2,862
Expenses
Cost of goods sold	$ 1,020
Depreciation expensebuilding	40
Depreciation expenseequipment	468
Loss on sale of equipment	20
Amortization of patent	200
Operating expenses	400	2,148
Net income		$ 714

Additional information from the accounting records:

Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2024.

During 2024, equipment with a cost of $480,000 (90% depreciated) was sold.

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 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.