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) 14,850 Sales revenue Service revenue 4,000 Total revenue 18.850 Operating expenses: Cost of goods sold Selling General and administrative 7,500 2.700 1,800 12,000 Total operating expenses Operating Income Interest expense 6,850 230 Income before Income taxes Income tax expense 6,620 2.800 Net Income $3,820 Balance Sheet Information ($ In thousands) Dec. 31. Dec. 31 2016 2015 Assets: Cash Accounts receivable Inventory Prepaid rent Plant and equipment Less: Accumulated depreciation $ 7,650 $ 2,470 3,100 2,500 3,300 180 360 15,100 12.600 (5.400) (4.800) 4.600 Total assets $25,230 $16,430 Llabilities and Shareholders' Equity: Accounts payable Interest payable Deferred service revenue Income taxes payable Loan payable (due 12/31/2015) Common stock Retained earnings $ 2,000 $1,400 130 0 860 630 580 860 5,600 0 10.300 10,300 5,760 3,240 Total liabilities and shareholders' equity $25,230 $16,430 1 Additional Information for the 2016 fiscal year ($ In thousands): 1. Cash dividends of $1,300 were declared and pald. 2. Equipment costing $4,600 was purchased with cash. 3. Equipment with a book value of $800 (cost of $2,100 less accumulated depreciation of $1,300) was sold for $800. 4. Depreciation of $1,900 Is Included in operating expenses. 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.)