The comparative balance sheets for $2021$ and $2020$ and the statement of income for $2021$ are given below for Wright Company. Additional information from Wright's accounting records is provided also.

WRIGHT COMPANY

Comparative Balance Sheets

December $31,2021$ and $2020$

$($$ in thousands$)$

$20212020$

Assets

Cash $ $109$ $ $70$

Accounts receivable $110115$

Short$-$term investment $5224$

Inventory $115110$

Land $82100$

Buildings and equipment $615480$

Less: Accumulated depreciation $(163)(115)$

$ $920784$

Liabilities

Accounts payable $ $35$ $ $43$

Salaries payable $68$

Interest payable $75$

Income tax payable $711$

Notes payable $027$

Bonds payable $234180$

Shareholders$$ Equity

Common stock $355280$

Paid$-$in capital$$excess of par $161140$

Retained earnings $11590$

$ $920$ $ $784$

WRIGHT COMPANY

Income Statement

For Year Ended December $31,2021$

$($$ in thousands$)$

Revenues:

Sales revenue $ $460$

Expenses:

Cost of goods sold $ $210$

Salaries expense $67$

Depreciation expense $48$

Interest expense $17$

Loss on sale of land $4$

Income tax expense $64410$

Net income $ $50$

Additional information from the accounting records:

Land that originally cost $$18,000$ was sold for $$14,000.$

The common stock of Microsoft Corporation was purchased for $$28,000$ as a short$-$term investment not classified as a cash equivalent.

New equipment was purchased for $$135,000$ cash.

A $$27,000$ note was paid at maturity on January $1.$

On January $1,2021,$ bonds were sold at their $$54,000$ face value.

Common stock $($$$75,000$ par$)$ was sold for $$96,000.$

Net income was $$50,000$ and cash dividends of $$25,000$ were paid to shareholders.

Required:

Prepare the statement of cash flows of Wright Company for the year ended December $31,2021.$ Present cash flows from operating activities by the direct method. $($Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands $($i$.$e$.,10,000$ should be entered as $10).)$