Use the income statement shown next to calculate free cash flow for Rainier Printing for 2021. In addition to the information in the income statement, assume that Rainier had $660,000 in capital expenditures and $460,000 in working capital investments during 2021.

Rainier Printing Income Statement
January 1 to December 31, 2021 ($ thousands)
Net sales	$ 10,200
Cost of sales	6,600
Gross profit	3,600
Operating expense	1,160
Depreciation expense	610
Operating income	1,830
Interest expense	310
Income before tax	1,520
Tax	456
Income after tax	$ 1,064

Note: Enter your answer in thousands.

What is the free cash flow?

is NOT 554,000