Paddleboard Inc. began operations on January 1, 2019. Its post-closing trial balance at December 31, 2019 and 2020, is shown below along with some other information. Paddleboard Inc. Income Statement For Year Ended December 31, 2020 (000s) Revenues: Sales $3,844 Cost of goods sold 1,596 Gross Profit 2,248 Expenses: Other expenses $820 Depreciation expense 140 Total operating expenses 960 Profit from operations 1,288 Income tax expense 288 Profit $1,000 Paddleboard Inc. Post-Closing Trial Balance (000s) December 31 2020 2019 $3,480 $1,900 Account Cash Paddleboard Inc. Post-closing Trial Balance (000s) December 31 Account 2020 2019 Cash $3,480 $1,900 Receivables 2,850 2,140 Merchandise inventory 2,620 3,190 Property, plant and equipment 3,100 2,780 Accumulated depreciation 1,980 1,840 Investments 2,140 2,300 Accounts payable 1,980 1,500 Accrued liabilities 320 480 Bonds payable 2,830 3,000 Common shares 3,100 2,390 Retained earnings 3,980 3,100 Other information regarding Paddleboard Inc. and its activities during 2020: 1. Assume all accounts have normal balances. 2. Cash dividends were declared and paid during the year. 3. There were no sales of property, plant, and equipment assets during the year. 4. Investments were sold for cash at their original cost. Required: Using the information provided, prepare a statement of cash flows (applying the indirect method) for the year ended December 31, 2020. (List any deduction in cash and cash outflows as negative amounts. Enter amounts in thousands, not in dollar.) PADDLEBOARD INC. Statement of Cash Flows For Year Ended December 31, 2020 (000s) Cash flows from operating activities: Adjustments to reconcile net income to net cash inflows from operating activities: Cash flows from investing activities: Cash flows from financing activities: 0