Selected accounts from the SFP of Iraj Ltd. at 31 December 20X5 and 20X4 are presented below, in thousands. Iraj reported earnings of $900 in 20X5, and depreciation expense was $165. Bonds of $150 par value were issued during the period for $135 and a discount of $15 was originally recorded. As at 31 December Accounts receivable Inventory Accounts payable 20X5 20X4 $450 $630 375 260 225 285 Interest payable 60 20 Deferred income tax liability 210 150 Bonds payable 750 600 Discount on bonds payable (33) (35) Required: 1. Prepare the operating activities section of the SCF, using the indirect approach and the two-step presentation method. (List any deduction in cash and cash outflows as negative amounts. Assume that dividends paid are financing activities, and assume that interest paid and received, and dividends received, are operating transactions. Enter your answers in thousands.) Iraj Limited Statement of Cash Flows For the Year Ended 31 December 20X5 Operating activities Adjustments for items not requiring cash: Changes in SFP accounts: Cash from operating activities 2. Calculate cash paid for interest and income tax, assuming that interest expense is $135 and income tax expense is $180. (Enter your answers in thousands.) Cash paid for interest Cash paid for income tax