Presented below are the 2016 income statement and comparative balance sheets for Santana Industries. SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2016 ($ in thousands) 17,450 Sales revenue Service revenue 6,600 $ Total revenue $24,050 Operating expenses: Cost of goods sold Selling General and administrative 8.800 4,000 3,100 Total operating expenses 15,900 Operating income Interest expense 8.150 360 Income before income taxes Income tax expense 7.790 4,100 Net income $3,690 Dec. 31. Dec. 31, Balance Sheet Information ($ in thousands) 2016 2015 Assets: Cash Accounts receivable Inventory Prepaid rent Plant and equipment Less: Accumulated depreciation $ 8,950 $ 3,640 5,700 3,800 7,200 4,600 310 620 17,700 15,200 (6,700) (6,100) Total assets $33,160 $ 21,760 Liabilities and Shareholders' Equity: Accounts payable Interest payable Deferred service revenue Income taxes payable Loan payable (due 12/31/2015) Common stock Retained earnings $ 4,600 $ 2,700 260 O 1,120 760 710 1,120 8.200 0 11,600 11,600 6,670 5,580 Total liabilities and shareholders' equity $33,160 $ 21,760 Additional information for the 2016 fiscal year ($ in thousands): 1. Cash dividends of $2,600 were declared and paid. 2. Equipment costing $7,200 was purchased with cash. 3. Equipment with a book value of $2,100 (cost of $4.700 less accumulated depreciation of $2,600) was sold for $2,100. 4. Depreciation of $3,200 is included in operating expenses. Saved Required: Prepare Santana Industries' 2016 statement of cash flows, using the indirect method to present cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) SANTANA INDUSTRIES Statement of Cash Flows For the Year Ended December 31, 2016 (s in thousands) $ 0 Pray 1 of N