A Company Income Statement For the Year Ended December 31, Current Year ($ in thousands) Sales revenue $ 13,000 Operating expenses: Cost of goods sold $ 4,600 Depreciation expense 360 Insurance expense 700 General and administrative expense 3,000 Total operating expenses 8,660 Income before income taxes 4,340 Income tax expense (1,736) Net income $ 2,604 Balance Sheet Information ($ in thousands) December 31, Current Year December 31, Previous Year Assets: Cash $ 540 $ 320 Accounts receivable 810 950 Inventory 750 720 Prepaid insurance 170 80 Equipment 3,300 2,400 Less: Accumulated depreciation (1,080) (720) Total assets $ 4,490 $ 3,750 Liabilities and Shareholders' Equity: Accounts payable $ 360 $ 480 Accrued liabilities (for general & administrative expense) 360 520 Income taxes payable 290 270 Notes payable (due 12/31/Next Year) 1,300 950 Common stock 1,020 920 Retained earnings 1,160 610 Total liabilities and shareholders' equity $ 4,490 $ 3,750 Required: Prepare the company's statement of cash flows, using the indirect method to present cash flows from operating activities