During 20x1, Jacinta Manufacturing Company (JMC) declared and paid cash dividends of $10,000. Late in the year, JMC bought new welding machinery for a cash cost of $125,000, financed partly by its first issue of long-term debt. Interest on the debt is payable annually. JMC sold several old machines for cash equal to their aggregate book value of $5,000. The company pays taxes in cash as incurred. The following data are in thousands: Jacinta Manufacturing Company Income Statement for the Year Ended December 31, 20X1 Sales $490 Cost of sales 300 Gross margin 190 Salaries $82 Depreciation 40 Cash operating expenses 15 Interest 2 Income before taxes Income taxes Net income 139 51 8 43 Jacinta Manufacturing Company Balance Sheets December 31 20X1 2oxo Increase (Decrease) $125 45 57 227 190 $417 $ 45 60 62 167 110 $277 $ 80 (15) 15 60 80 $140 Assots Cash and cash equivalents Accounts receivable Inventories Total current assets Fixed assets, net Total assets Llabilities and Stockholders' Equity Accounts payable Interest payable Long-term debt Paid-in capital Retained earnings Total liabilities and stockholders' equity $ 21 2 100 $ 26 2 100 220 69 $417 220 36 $277 33 $140 Prepare a statement of cash flows for 20X1. Use the direct method for reporting cash flows from operating activities. Omit supporting schedules. Assume that Jacinta paid expense items in cash unless balance sheet changes indicate otherwise