Presented below are the 2021 income statement and comparative balance sheets for Santana Industries. $21, 650 SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue $ 16, 250 Service revenue E5, 400 Total revenue Operating expenses: Cost of goods sold 8, 200 Selling expense 3,400 General and administrative expense 2,500 Total operating expenses Operating income Intereste expense Income before income taxes Income tax expense Net income 14, 100 7,550 250 7, 300 2,600 $ 4,700 Dec. 31, 2021 Dec. 31, 2020 Balance Sheet Information ($ in thousands) Assets: Cash Accounts receivable Inventory $ 9, 300 4,500 6,000 $ 3, 100 3, 200 4,000 BU HW 6 (Chapter 4) Saved Help Dec. 31, Dec. 31, 2021 2020 $ 9, 300 4,500 6,000 250 16,500 (6,100) $30, 450 Balance Sheet Information ($ in thousands) Assets: Cash 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 $ 3,100 3, 200 4,000 500 14,000 (5,500) $19,300 $ 2,100 700 1,000 $ 3,400 200 1,000 650 7.000 11,000 7,200 $30, 450 11,000 4,500 $19, 300 Additional information for the 2021 fiscal year ($ in thousands): 1. Cash dividends of $2,000 were declared and paid. 2. Equipment costing $6,000 was purchased with cash. 3. Equipment with a book value of $1,500 (cost of $3,500 less accumulated depreciation of $2,000) was sold for $1,500. 4. Depreciation of $2,600 is included in operating expenses. Prey 1 of 2 Next > Required: Prepare Santana Industries' 2021 statement of cash flows, using the indirect method to present cash flows from operating activities (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) SANTANA INDUSTRIES Statement of Cash Flows For the Year Ended December 31, 2021 ($ in thousands) Cash flows from operating activities Adjustments for noncash effects: Changes in operating assets and liabilities: Prv 1 of 2 Next > O $ 0 Net cash flows from operating activities Cash flows from investing activities: 0 Net cash flows from investing activities Cash flows from financing activities: 0 0 Net cash flows from financing activities Net increase in cash Cash, January 1 Cash, December 31 0