Exercise 1. Statement of Cash Flow Indirect Method

Presented below are the 2024 income statement and comparative balance sheets for Santana Industries.

Additional information for the 2024 fiscal year ($ in thousands):

Cash dividends of $1,500 were declared and paid.

Equipment costing $5,000 was purchased with cash.

Equipment with a book value of $1,000 (cost of $2,500 less accumulated depreciation of

$1,500) was sold for $1,000.

Depreciation of $2,100 is included in operating expenses.

Required:

Prepare Santana Industries' 2024 statement of cash flows, using the indirect method to present cash flows from operating activities.