Statement of Cash Flows using the indirect method. My professor wanted the indirect method instead of direct.

276 SECTION 4 A nal Financial Reporting me are given below for The comparative balance sheets for 2021 and 2 ement of income Wright Company. Additional information from Wright's counting records for e Wom also 21-2 Batement of ash flows direct method LO21-3 LO21-8 WRIGHT COMPANY Comparative Balance Sheets December 31, 2021 and 2020 in thousands) Accounts receivable Inventory Buildings and equipment Less: Accumulated depreciation Liabilities Accounts payable Salanes payable Interest payable Notes payable Shareholders' Equity Common stock Paid in capital excess of par Retained earnings $ 715 WRIGHT COMPANY For Year Ended December 31, 2021 Revenues $ 130 Cost of goods sold Salaries expense Depreciation expense Interest expense Loss on sale of land Income tax expense Net Income Actional information from the accounting records: Land that originally cost $10,000 was sold for $7.000 h The common stock of Microsoft Corporation was purchased for $25,000 as a short-term investment sified as a cash equivalent c. New quipment was purchased for $150.000 cash. d. A $30,000 note was paid at maturity on January 1. e. On January 1, 2021, bonds were sold at their $60.000 face value. f. Common stock (550,000 par) was sold for $76,000. Net Income was $80,000 and cash dividends of $35.000 were paid to shole Required: Prepare the statement of cash flows of Wright Company for the year ended flows from operating activities by the direct method. (You may omit the schedule cash flows from operating activities.) nded December 31, 2021. Present cash it the schedule to reconcile net income with