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 $ $3,360$

Cost of goods sold $2,760$

Gross Profit $600$

Expenses:

Other expenses $ $600$

Depreciation expense $240$

Total expenses $840$

Loss $ $240$

Lock & Key Inc.

Post$-$Closing Trial Balance

$(000$s$)$

December $31$

Account $20232022$

Cash $ $2,760$ $ $1,320$

Receivables $2,1501,500$

Merchandise inventory $2,1002,430$

Property, plant and equipment $3,7804,020$

Accumulated depreciation $1,5001,440$

Accounts payable $1,5001,140$

Accrued liabilities $240360$

Bonds payable $2,2102,400$

Common shares $3,1441,410$

Retained earnings $2,1962,520$

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.$)$