Lock & Key Inc. began operations on January $1,2022.$ Its post$-$closing trial balance at December $31,2022$ and $2023,$ is shown below along with some other information.

Lock & Key Inc.

Income Statement

For Year Ended December $31,2023$

$(000$s$)$

Revenues:

Sales $ $3,280$

Cost of goods sold $2,820$

Gross Profit $460$

Expenses:

Other expenses $ $540$

Depreciation expense $240$

Total expenses $780$

Loss $ $320$

Lock & Key Inc.

Post$-$Closing Trial Balance

$(000$s$)$

December $31$

Account $20232022$

Cash $ $1,960$ $ $1,240$

Receivables $2,0801,420$

Merchandise inventory $2,0202,260$

Property, plant and equipment $3,7003,940$

Accumulated depreciation $1,4201,360$

Accounts payable $1,4201,060$

Accrued liabilities $240360$

Bonds payable $1,5001,780$

Common shares $3,0641,840$

Retained earnings $2,1162,460$

Other information regarding Lock & Key Inc. and its activities during $2023$:

Assume all accounts have normal balances.

Cash dividends were declared and paid during the year.

Equipment was sold for cash equal to its book value.

Required:

Using the information provided, prepare a statement of cash flows $($applying the indirect method$)$ for the year ended December $31,2023.($List any deduction in cash and cash outflows and loss as negative amounts. Enter amounts in thousands, not in dollar.$)$