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	$	14,250
Service revenue		3,400
Total revenue				$	17,650
Operating expenses:
Cost of goods sold		7,200
Selling expense		2,400
General and administrative expense		1,500
Total operating expenses					11,100
Operating income					6,550
Interest expense					150
Income before income taxes					6,400
Income tax expense					1,600
Net income				$	4,800

Balance Sheet Information ($ in thousands)	Dec. 31, 2021				Dec. 31, 2020
Assets:
Cash	$	8,300			$	2,200
Accounts receivable		2,500				2,200
Inventory		4,000				3,000
Prepaid rent		150				300
Equipment		14,500				12,000
Less: Accumulated depreciation		(5,100	)			(4,500	)
Total assets	$	24,350			$	15,200
Liabilities and Shareholders Equity:
Accounts payable	$	1,400			$	1,100
Interest payable		100				0
Deferred revenue		800				600
Income taxes payable		550				800
Notes payable (due 12/31/2023)		5,000				0
Common stock		10,000				10,000
Retained earnings		6,500				2,700
Total liabilities and shareholders' equity	$	24,350			$	15,200

Additional information for the 2021 fiscal year ($ in thousands):

1. Cash dividends of $1,000 were declared and paid.
2. Equipment costing $4,000 was purchased with cash.
3. Equipment with a book value of $500 (cost of $1,500 less accumulated depreciation of $1,000) was sold for $500.
4. Depreciation of $1,600 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.

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	$	14,250
Service revenue		3,400
Total revenue				$	17,650
Operating expenses:
Cost of goods sold		7,200
Selling expense		2,400
General and administrative expense		1,500
Total operating expenses					11,100
Operating income					6,550
Interest expense					150
Income before income taxes					6,400
Income tax expense					1,600
Net income				$	4,800

Balance Sheet Information ($ in thousands)	Dec. 31, 2021				Dec. 31, 2020
Assets:
Cash	$	8,300			$	2,200
Accounts receivable		2,500				2,200
Inventory		4,000				3,000
Prepaid rent		150				300
Equipment		14,500				12,000
Less: Accumulated depreciation		(5,100	)			(4,500	)
Total assets	$	24,350			$	15,200
Liabilities and Shareholders Equity:
Accounts payable	$	1,400			$	1,100
Interest payable		100				0
Deferred revenue		800				600
Income taxes payable		550				800
Notes payable (due 12/31/2023)		5,000				0
Common stock		10,000				10,000
Retained earnings		6,500				2,700
Total liabilities and shareholders' equity	$	24,350			$	15,200

Additional information for the 2021 fiscal year ($ in thousands):

1. Cash dividends of $1,000 were declared and paid.
2. Equipment costing $4,000 was purchased with cash.
3. Equipment with a book value of $500 (cost of $1,500 less accumulated depreciation of $1,000) was sold for $500.
4. Depreciation of $1,600 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.