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 StatementFor Year Ended December 31, 2023(000s)Revenues: Sales $3,954 Cost of goods sold 1,796 Gross Profit 2,158 Expenses: Other expenses$690 Depreciation expense 90 Total operating expenses 780 Profit from operations 1,378 Income tax expense 808 Profit $570

Paddleboard Inc.Post-Closing Trial Balance(000s) December 31Account20232022Cash$2,380$1,790Receivables2,7502,030Merchandise inventory2,5102,990Property, plant and equipment2,9902,670Accumulated depreciation1,8701,780Investments2,0302,190Accounts payable1,8701,390Accrued liabilities320480Bonds payable1,7402,350Common shares2,9902,320Retained earnings3,8703,350

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.)