The Weeknd Inc. has the following financial statements for 20x8. In addition, the company paid stockholders dividends of $2.9 million and received $4.8 million from the sale of new stock. No fixed assets were retired during the year. (Hint: That implies that fixed asset purchases and depreciation are equal to the changes in the gross fixed asset and accumulated depreciation accounts.) Weeknd Inc. Balance Sheet For the period ended 12/31/X8 (5000) ASSETS 12/31/X7 12/31/X8 Cash $ 3225 $ 2617 Accounts receivable 7961 5678 Inventory 12408 13653 CURRENT ASSETS $ 23594 $ 21948 Fixed assets Gross Accumulated deprec. Net $ 66098 (47038) $ 19060 $ 72166 (51342) $ 20824 TOTAL ASSETS $ 42654 $ 42772 $ Accounts payable Accruals CURRENT LIABILITIES LIABILITIES 1667 $ 951 2618 $ 2227 702 2929 $ Long-term debt Equity TOTAL CAPITAL $ 9007 31029 $ 40036 $ 1352 38491 $ 39843 TOTAL LIABLITIES AND EQUITY $ 42654 $ 42772 Weeknd Inc. Income Statement For the period ended 12/31/X8 (5000) Sales $ 67954 COGS 35278 Gross margin $ 32676 Depreciation 4304 Expense $ 18007 EBIT $ 10365 Interest 1096 EBT $ 9269 Tax 3707 Net income $ 5562 Construct Weeknd's statement of cash flows for 20X8. Enter your answers in thousands, without commas. For example, an answer of $1.2 million should be entered as 1200, not 1200000. Use a minus sign, to indicate any decreases in cash or cash outflows. Weeknd Inc. Statement of Cash Flows For the period ended 12/31/X8 ($000) OPERATING ACTIVITIES: $ Net Income $ Depreciation $ Net changes in current accounts Cash from Operating Activities INVESTING ACTIVITIES: $ Increase in Fixed Assets Cash from Investing Activities FINANCING ACTIVITIES: $ Decrease in Debt $ Dividends Paid $ Sale of Stock Cash from Financing Activities $ NET CASH FLOW Reconciliation $ Beginning Cash $ Net Cash Flow Ending Cash