Latigoe Inc. has the following financial statements for 20X8. In addition, the company paid stockholders dividends of $2.9 million and received $4.8 million from the sale of new stock. No fixed assets were retired during the year. (Hint: That implies that fixed asset purchases and depreciation are equal to the changes in the gross fixed asset and accumulated depreciation accounts.)

Latigoe Inc.
Balance Sheet
For the period ended 12/31/X8 ($000)
				ASSETS
		12/31/X7			12/31/X8
Cash		$	3300		$	2628
Accounts receivable			7947			5685
Inventory			12408			13653
CURRENT ASSETS		$	23655		$	21966
Fixed assets
Gross		$	66098		$	72166
Accumulated deprec.			(47099)			(51360)
Net		$	18999		$	20806
TOTAL ASSETS		$	42654		$	42772
				LIABILITIES
Accounts payable		$	1662		$	2169
Accruals			984			771
CURRENT LIABILITIES		$	2646		$	2940
Long-term debt		$	9007		$	1352
Equity			31001			38480
TOTAL CAPITAL		$	40008		$	39832
TOTAL LIABLITIES AND EQUITY		$	42654		$	42772

Latigoe Inc.
Income Statement
For the period ended 12/31/X8
($000)
Sales		$	67928
COGS			35913
Gross margin		$	32015
Depreciation			4261
Expense		$	17372
EBIT		$	10382
Interest			1096
EBT		$	9286
Tax			3707
Net income		$	5579

Construct Latigoe's statement of cash flows for 20X8. Enter your answers in thousands. For example, an answer of $1.2 million should be entered as 1200, not 1200000. Use a minus sign, to indicate any decreases in cash or cash outflows.

Latigoe Inc. Statement of Cash Flows For the period ended 12/31/X8 ($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	$
	Sale of Stock	$
Cash from Financing Activities		$
NET CASH FLOW		$

Reconciliation
	Beginning Cash	$
	Net Cash Flow	$
	Ending Cash	$