Pharoah Corporation reported the following information (in thousands) at December 31, 2021: 2021 2020 $ 30 $ 10 220 220 Dividends payable Bank loan payable-current portion Bank loan payable-non-current portion Common shares Retained earnings 460 285 660 495 740 535 Additional information: 1. 2. 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 $480. 3. 4 Prepare the financing activities section of Pharoah's statement of cash flows for the year. (Show amounts that decrease cash flow with either a-sign e.g. - 15,000 or in parenthesis e.g. (15,000).) a- PHAROAH CORPORATION Statement of Cash Flows (Partial) ($ in thousands) Year Ended December 31, 2021 Financing activities Payment of cash dividends Repayment of bank loan payable Issue of common shares $ Note X to the Statement of Cash Flows: During the year, the company purchased equipment costing $580 by paying $230 cash and issuing a $ bank loan payable