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		$	3,462		$	2,901
Accounts receivable			6,690			5,117
Inventory			2,573			3,220
CURRENT ASSETS		$	12,725		$	11,238
Fixed assets
Gross		$	22,478		$	24,360
Accumulated deprec.			(12,043)			(12,873)
Net		$	10,435		$	11,487
TOTAL ASSETS		$	23,160		$	22,725
				LIABILITIES
Accounts payable		$	1,510		$	1,682
Accruals			213			384
CURRENT LIABILITIES		$	1,723		$	2,066
Long-term debt		$	7,112		$	6,002
Equity			14,325			14,657
TOTAL CAPITAL		$	21,437		$	20,659
TOTAL LIABILITIES AND EQUITY		$	23,160		$	22,725

Axtel Company
Income Statement
For the period ended 12/31/X1
($000)
Sales		$	36,170
COGS			19,639
Gross margin		$	16,531
Expense		$	11,154
EBIT		$	5,377
Interest			713
EBT		$	4,664
Tax			1,605
Net income		$	3,059

In addition, Axtel retired stock for $1,000,000 and paid a dividend of $1,727,000. Depreciation for the year was $830,000. 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 200,000. 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:
	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	$