The comparative bslance sheets for 2018 and 2017 and the statement of income for 2018 are for Wright Company. Additional informstion from Wright's sccounting records is provided also. given below WRIGHT COMPANY Comparative Balance Sheets Decenber 31, 2818 and 2817 ($in 888s) 2918 2817 Assets Cash Accounts receivable Short-tern inves tment Inventory $ 83 $55 98 18 42 95 578 456 (145) (188) 78 Buildings and equipnent Less: Accumulated S 817 Liabilities Accounts payable Salaries payable Interest payable Incone tax payable Notes payable Bonds payable Shareholders' Equity Common stock Paid-in capital-excess of par $ 31 $ 48 14 24 158 198 318 258 125 158 $ 817 7e3 MRGT COMPANY Incone Statement For Year Ended December 31, 2818 ($ in 880s) Sales revenue $428 Cost of goods sold Salaries expense $180 49 45 Interest expense Loss on sale of land Income tax expense 58 358 Net income Addlitional information from the accounting records. a. Land that originally cost $15,000 was sold for $11,000. b. The common stock of Microsoft n was purchased for $24,000 as a short-term investment not classified as a cash equivalent. c. New equipment was purchased for $120,000 cash. d. A $24,000 note was paid at maturity on January 1 e. On January 1, 2018, bonds were sold at their $48,000 face value. f Common stock ($60,000 par) was sold for $85,000 g. Net income was $70,000 and cash dividends of $50,000 were paid to shareholders. Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2018. Present cash fiows from operating activities by the direct method. (Amounts to be deducted should be Indicated with a minus sign. Enter your answers In thousands (Le., 5,000 should be entered as 5).)