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 $ $3,350$

Cost of goods sold $2,750$

Gross Profit $600$

Expenses:

Other expenses $ $610$

Depreciation expense $240$

Total expenses $850$

Loss $ $250$

Lock & Key Inc.

Post$-$Closing Trial Balance

$(000$s$)$

December $31$

Account $20232022$

Cash $ $2,660$ $ $1,310$

Receivables $2,1401,490$

Merchandise inventory $2,0902,420$

Property, plant and equipment $3,7704,010$

Accumulated depreciation $1,4901,430$

Accounts payable $1,4901,130$

Accrued liabilities $240360$

Bonds payable $2,1202,300$

Common shares $3,1341,500$

Retained earnings $2,1862,510$

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.

Other information:

All accounts payable balances result from merchandise purchases.

All sales are credit sales.

All credits to accounts receivable are receipts from customers.

All debits to accounts payable result from payments for merchandise.

All other expenses are cash expenses.

Required:

Prepare a statement of cash flows for $2023$ using the direct method to report cash inflows and outflows from operating activities. $($List any deduction in cash and cash outflows and loss as negative amounts. Enter amounts in thousands, not in dollar.$)$