SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2016 $ in thousands) Sales revenue s16,650 Service revenue 5,800 $22450 Total revenue Cost of goods sold Selling General and administrative 8,400 3,600 2,700 14,700 Total operating expenses Operating income Interest expense 7,750 320 Income before income taxes income tox expense 7430 3,700 Net income 3.730 Dec. 31, Dec. 31. 2016 2015 Balance Sheet Information ($ in thousands) Assets: Cash Accounts receivable. Inventory Prepsid rent Plant and equipment $ 8,550 3,280 4,900 3.400 6,400 4,200 540 6,900 14,400 (6,300) (5,700) 270 Less: Accumulsted deprecistion Total assets $30720 $ 20,120 Liabilities and Shareholders Equity: Accounts payable Interest psyable Deferred service revenue Income taxes payable Loan psyable (due 12/31/2015) Common stock Retained earnings $ 3,800 $2,300 040 720 670 1,040 0 11,200 11,200 6,390 4,860 7,400 Total liabilities and shareholders' equity$30,720 $20,120 Additional information for the 2016 fiscal year (S in thousands 1. Cash dividends of $2,200 were declared and paid. 2. Equipment costing $6,400 was purchased with cash. 3. Equipment with a book value of $1,700 (cost of $3,900 less accumulated deprecistion of $2,200) was sold for $1,700. 4. Deprecistion of S2.800 is included in operating expenses. Required: Prepare Santans Industries' 2016 ststement of cash flows, using the indirect method to present cash flows from opersting sctivities. (Amounts to be deducted should be Indicated with a minus sign. Enter your answers In thousands.)