Presented below are the 2016 income statement and comparative balance sheets for Santana Industries

Additional information for the 2016 fiscal year ($ in thousands.)

1- Cash dividends of $2,700 were declard and paid 2- Equipment costing $7,400 was purchased with cash. 3- Equipment with a book value of $2,200 (cost of $4,900 less accumulated depreciation of $2,700) was sold for $2,200 4- Depreciation of $3,300 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.)

SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2016 (S in thousands) $ 17,650 6,800 Sales revenue Service revenue $24,450 Total revenue Operating expenses 8,900 4,100 3,200 Cost of goods sold Selling General and administrative Total operating expenses 16,200 Operating income Interest expense 8,250 370 Income before income taxes Income tax expense 7.880 4,200 Net income $ 3,680