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 $2020$

$($$ in thousands$)20212020$ Assets Cash$$103$ $$75$ Accounts receivable $116120$ Short$-$term investment $5526$ Inventory $118115$ Land $86105$ Buildings and equipment $630490$ Less: Accumulated depreciation $(169)(120)$ $$939811$ Liabilities Accounts payable$$35$ $$44$ Salaries payable $36$ Interest payable $86$ Income tax payable $912$ Notes payable $028$ Bonds payable $246190$ Shareholders$$ Equity Common stock $330290$ Paid$-$in capital$-$excess of par $173145$ Retained earnings $13590$ $$939$ $$811$

WRIGHT COMPANY

Income Statement

For Year Ended December $31,2021$

$($$ in thousands$)$Revenues: Sales revenue $$520$ Expenses: Cost of goods sold$$220$ Salaries expense $73$ Depreciation expense $49$ Interest expense $18$ Loss on sale of land $4$ Income tax expense $66430$ Net income $$90$

Additional information from the accounting records:

Land that originally cost $$19,000$ was sold for $$15,000.$

The common stock of Microsoft Corporation was purchased for $$29,000$ as a short$-$term investment not classified as a cash equivalent.

New equipment was purchased for $$140,000$ cash.

A $$28,000$ note was paid at maturity on January $1.$

On January $1,2021,$ bonds were sold at their $$56,000$ face value.

Common stock $($$$40,000$ par$)$ was sold for $$68,000.$

Net income was $$90,000$ and cash dividends of $$45,000$ 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 $10).)$

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.

Additional information from the accounting records:

a$.$ Land that originally cost $$19,000$ was sold for $$15,000.$

b$.$ The common stock of Microsoft Corporation was purchased for $$29,000$ as a short$-$term investment not classified as a cash

equivalent.

c$.$ New equipment was purchased for $$140,000$ cash.

d$.$ A $$28,000$ note was paid at maturity on January $1.$

e$.$ On January $1,2021,$ bonds were sold at their $$56,000$ face value.

f$.$ Common stock $($$$40,000$ par$)$ was sold for $$68,000.$

g$.$ Net income was $$90,000$ and cash dividends of $$45,000$ 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 $10).)$ statement or Lash Hows

For the year ended December $31,2021$