Axtel Company has the following financial statements.

Axtel Company
Balance Sheet
For the period ended 12/31/X1 ($000)
				ASSETS
		12/31/X0			12/31/X1
Cash		$	3,499		$	2,934
Accounts receivable			6,699			5,066
Inventory			2,573			3,220
CURRENT ASSETS		$	12,771		$	11,220
Fixed assets
Gross		$	22,478		$	24,360
Accumulated deprec.			(12,089)			(12,855)
Net		$	10,389		$	11,505
TOTAL ASSETS		$	23,160		$	22,725
				LIABILITIES
Accounts payable		$	1,562		$	1,678
Accruals			275			361
CURRENT LIABILITIES		$	1,837		$	2,039
Long-term debt		$	7,112		$	6,002
Equity			14,211			14,684
TOTAL CAPITAL		$	21,323		$	20,686
TOTAL LIABILITIES AND EQUITY		$	23,160		$	22,725

Axtel Company
Income Statement
For the period ended 12/31/X1
($000)
Sales		$	36,311
COGS			19,936
Gross margin		$	16,375
Expense		$	10,857
EBIT		$	5,518
Interest			713
EBT		$	4,805
Tax			1,605
Net income		$	3,200

In addition, Axtel retired stock for $1,000,000 and paid a dividend of $1,727,000. Depreciation for the year was $766,000. Construct a statement of cash flows for Axtel for 20X1. (Hint: Retiring stock means buying it back from shareholders. Assume the purchase was made at book value, and treat it like a negative sale of stock.) Enter your answers in thousands. For example, an answer of $200 thousands should be entered as 200, not 200000. Use a minus sign, to indicate any decreases in cash or cash outflows.

Axtel Company Statement of Cash Flows For the period ended 12/31/X1 ($000)

OPERATING ACTIVITIES: 1 Net Income Depreciation Net changes in current accounts Cash from Operating Activities INVESTING ACTIVITIES: Increase in Fixed Assets Cash from Investing Activities FINANCING ACTIVITIES: Decrease in Debt Dividends Paid Stock Retired Cash from Financing Activities NET CASH FLOW Reconciliation Beginning Cash Net Cash Flow Ending Cash