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				$	3,864
Cost of goods sold					1,616
Gross Profit					2,248
Expenses:
Other expenses	$	800
Depreciation expense		160
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
Account	2020	2019
Cash	$3,680	$1,920
Receivables	2,870	2,160
Merchandise inventory	2,640	3,210
Property, plant and equipment	3,120	2,800
Accumulated depreciation	2,000	1,840
Investments	2,160	2,320
Accounts payable	2,000	1,520
Accrued liabilities	320	480
Bonds payable	3,030	3,200
Common shares	3,120	2,250
Retained earnings	4,000	3,120

Other information regarding Paddleboard Inc. and its activities during 2020:

Assume all accounts have normal balances.

Cash dividends were declared and paid during the year.

There were no sales of property, plant, and equipment assets during the year.

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.)