Selected accounts from the SFP of Iraj Ltd. at 31 December 2005 and 20x4 are presented below, in thousands. Iraj reported earnings of $820 in 20x5, and depreciation expense was $160. 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 $381 338 265 39 175 510 (63) 20X4 $ 495 286 311 16 140 360 (26) 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 $161 and income tax expense is $192. (Enter your answers in thousands.) Cash paid for interest Cash paid for income tax