Lock & Key Inc. began operations on January $1,2022.$ Its post$-$closing trial balance at December $31,2022$ and $2023,$ is shown below along with some other information.

Lock & Key Inc.

Income Statement

For Year Ended December $31,2023$

$(000$s$)$

Revenues:

Sales $ $3,260$

Cost of goods sold $2,880$

Gross Profit $380$

Expenses:

Other expenses $ $740$

Depreciation expense $240$

Total expenses $980$

Loss $ $600$

Lock & Key Inc.

Post$-$Closing Trial Balance

$(000$s$)$

December $31$

Account $20232022$

Cash $ $1,460$ $ $1,190$

Receivables $2,0301,370$

Merchandise inventory $1,9702,210$

Property, plant and equipment $3,6503,890$

Accumulated depreciation $1,3701,310$

Accounts payable $1,3701,010$

Accrued liabilities $240360$

Bonds payable $1,0501,730$

Common shares $3,0141,550$

Retained earnings $2,0662,700$

Other information regarding Lock & Key Inc. and its activities during $2023$:

Assume all accounts have normal balances.

Cash dividends were declared and paid during the year.

Equipment was sold for cash equal to its book value.

Required:

Using the information provided, prepare a statement of cash flows $($applying the indirect method$)$ for the year ended December $31,2023.($List any deduction in cash and cash outflows and loss as negative amounts. Enter amounts in thousands, not in dollar.$)$