Selected accounts from the SFP of Iraj Ltd. at 31 December 20X5 and 20X4 are presented below, in thousands. Iraj reported earnings of $800 in 20X5, and depreciation expense was $195. Bonds of $150 par value were issued during the period for $95 and a discount of $55 was originally recorded. As at 31 December Accounts receivable Inventory Accounts payable Interest payable Deferred income tax liability Bonds payable Discount on bonds payable 20x5 $459 379 234 39 174 460 (69) 20x4 $640 266 291 17 140 310 (28) The SCI for Iraj Ltd. follows: Statement of Comprehensive Income, for the Year Ended 31 December, 20X5 (in thousands): $4,050 1,600 2,450 Sales Cost of goods sold Gross profit Depreciation expense Selling and administrative expenses Interest expense Earnings before income tax Income tax expense Earnings and comprehensive income $195 470 141 806 1,644 182 $1,462 Using the SCI and the facts provided regarding SFP, prepare the operating section of the SCF. Cash paid for interest is included in the financing activities sections. (List any deduction in cash and cash outflows as negative amounts. Enter your answers in thousands.) Iraj Limited Statement of Cash Flows For the Year Ended 31 December 2005 Operating activities Cash from customers Cash paid for materials and labour Cash paid for income tax Cash from operating activities 0