Presented below are the 2018 income statement and comparative balance sheets for Santana Industries.

Additional information for the 2018 fiscal year ($ in thousands):
1. Cash dividends of $1,000 were declared and paid.
2. Equipment costing $4,000 was purchased with cash.
3. Equipment with a book value of $500 (cost of $1,500 less accumulated depreciation of $1,000) was sold for $500.
4. Depreciation of $1,600 is included in operating expenses.
Required:
Prepare Santana Industries' 2018 statement of cash flows, using the indirect method to present cash flows from operating activities.

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SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2018 ($ in thousands) $14,250 3,400 Income before income taxes Balance Sheet Information ($ in thousands) 8 $ 2,200 equity: Loan payable (due 12/31/2020) Total liabilities and shareholders' equity $23,400 $15,200