Presented below are the 2021 income statement and comparative balance sheets for Santana Industries. SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue ped Service revenue $ 16,850 6,000 Total revenue $22,850 Operating expenses: Ook Cost of goods sold 8,500 Selling expense 3,700 ant General and administrative expense 2,800 Total operating expenses 15,000 ences Operating income. 7,850 Interest expense 280 Income before income taxes Income tax expense Net income 7.570 2,900 $ 4,670 Balance Sheet Information ($ in thousands) Assets: Cash Accounts receivable Inventory Prepaid rent Equipment Less: Accumulated depreciation Dec. 31, 2021 Dec. 31, 2020 $ 3,370 3,500 4,300 $9,600 5,100 6,600 280 560 17,100 14,600 (6,400) (5,800) 6 ipped Book Print erences Accounts receivable Inventory Prepaid rent Equipment Less: Accumulated depreciation Total assets Liabilities and Shareholders' Equity: Accounts payable Interest payable Deferred revenue Income taxes payable Notes payable (due 12/31/2023) Common stock Retained earnings Total liabilities and shareholders' equity Additional information for the 2021 fiscal year ($ in thousands): 1. Cash dividends of $2,300 were declared and paid. 2. Equipment costing $6,600 was purchased with cash. 5,100 3,500 6,600 4,300 280 560 17,100 14,600 (6,400) (5,880) $32,280 $20,530 $ 4,000 230 $ 2,400 1,060 730 680 1,060 7,600 11,300 11,300 7,410 $32,280 5,840 $20,530 3. Equipment with a book value of $1,800 (cost of $4,100 less accumulated depreciation of $2,300) was sold for $1,800. 4. Depreciation of $2,900 is included in operating expenses. Required: Prepare Santana Industries' 2021 statement of cash flows, using the indirect method to present cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) SANTANA INDUSTRIES Check my s SANTANA INDUSTRIES Statement of Cash Flows For the Year Ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities: your answers in thousands.) $ 0 es Net cash flows from operating activities Cash flows from investing activities: $ 0 Net cash flows from investing activities. Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Cash, January 1 Cash, December 31 0 0 0 $ 0