Calculate free cash flow for $2021$ for Monarch Textiles, Incorporated, based on the financial information that follows. Assume that all current liabilities are non$-$interest$-$bearing liabilities and that no fixed assets were sold or disposed of during $2021.$

Monarch Textiles, Incorporated $($$ thousands$)$

Income statement Selected balance sheet items

$202120202021$

Sales $1,550$ Current assets $450625$

Cost of sales $790$ Net fixed assets $160320$

Operating expenses $130$ Current liabilities $275355$

Depreciation $80$

Interest expense $50$

Earnings before taxes $500$

Tax $200$

Net income $300$

Note: Round your answer to the $1000$s place.