Paddleboard 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.

Paddleboard Inc.
Income Statement
For Year Ended December 31, 2023
(000s)
Revenues:
Sales				$	3,804
Cost of goods sold					1,556
Gross Profit					2,248
Expenses:
Other expenses	$	860
Depreciation expense		100
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	2023	2022
Cash	$3,080	$1,860
Receivables	2,810	2,100
Merchandise inventory	2,580	3,150
Property, plant and equipment	3,060	2,740
Accumulated depreciation	1,940	1,840
Investments	2,100	2,260
Accounts payable	1,940	1,460
Accrued liabilities	320	480
Bonds payable	2,430	2,600
Common shares	3,060	2,670
Retained earnings	3,940	3,060

Other information regarding Paddleboard Inc. and its activities during 2023:

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, 2023. (List any deduction in cash and cash outflows as negative amounts. Enter amounts in thousands, not in dollar.)