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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,

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 IN THE THOUSANDS ?

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