Pharoah Corporation reported the following information (in thousands) at December 31, 2021: Dividends payable Bank loan payable-current portion Bank loan payable-non-current portion Common shares Retained earnings 2021 $ 30 220 460 660 2020 $ 10 220 285 495 535 740 Additional information: 1. 2 3. 4. The bank loan was increased by additional borrowings of $350 to partially finance the purchase of new equipment that cost $580. The bank loan was decreased by repayments. Common shares were issued during the year None were repurchased. The company paid dividends during the year, Net Income for the year was $480. Prepare the financing activities section of Pharoah's statement of cash flows for the year. (Show amounts that decrease cash flow with either a-sign e.3. -15,000 or in parenthesis e.g. (15,000).) Prepare the financing activities section of Pharoah's statement of cash flows for the year. (Show amounts that decrease cash flow with either a-sign e g. -15,000 or in parenthesis e.g. (15,000).) PHAROAH CORPORATION Statement of Cash Flows (Partial) ($ in thousands) Financing activities $ Note X to the Statement of Cash Flows: During the year, the comparvy purchased equipment costing $580 by paying $230 cash and issuing a $ bank loan payable