Presented below are the 2018 income statement and comparative balance sheets for Santana Industries SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2018 ($ in thousands) Sales revenue $ 17,450 Service revenue 6,600 Total revenue $24,050 Operating expenses: 8,800 4,000 Cost of goods sold Selling General and administrative 3,100 Total operating expenses 15,900 Operating income 8,150 360 Interest expense Income before income taxes 7,790 4,100 Income tax expense $ 3,690 Net income Dec. 31, Dec. 31 2018 2017 Balance Sheet Information ($ in thousands) Assets: Cash $ 8,950 3,640 5, 700 7,200 3,800 4,600 Accounts receivable Inventory Prepaid rent 310 620 17,700 Plant and equipment 15,200 (6,700) (6,100) Less: Accumulated depreciation $33,160 $21,760 Total assets Liabilities and Shareholders' Equity: Accounts payable Interest payable $ 4,600 2,700 260 Deferred service revenue 1,120 760 Income taxes payable 710 1,120 8,200 11,600 6,670 Loan payable (due 12/31/2020) 11,600 5,580 Common stock Retained earnings $33,160 $21,760 Total liabilities and shareholders' equity Additional information for the 2018 fiscal year ($ 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 $3,200 is included in operating expenses Required Prepare Santana Industries' 2018 statement of cash flows, using the indirect method to present cash flows from operating activitie:s (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.]) SANTANA INDUSTRIES Statement of Cash Flows For the Year Ended December 31, 2018 ($ in thousands) 0 0 0