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

SANTANA INDUSTRIESIncome StatementFor the Year Ended December $31,2024($$ in thousands$)$Sales revenue$ $18,250$Service revenue$7,400$Total revenue$$$ $25,650$Operating expenses:$$Cost of goods sold$9,200$Selling expense$4,400$General and administrative expense$3,500$Total operating expenses$17,100$Operating income$8,550$Interest expense$350$Income before income taxes$8,200$Income tax expense$3,600$Net income$$$ $4,600$

Balance Sheet Information $($$ in thousands$)$December $31,2024$December $31,2023$Assets:$$Cash$ $10,300$$ $4,000$Accounts receivable$6,5004,200$Inventory$8,0005,000$Prepaid rent$350700$Equipment$18,50016,000$Less: Accumulated depreciation$(7,100)(6,500)$Total assets$ $36,550$$ $23,400$Liabilities and Shareholders$$ Equity:$$Accounts payable$ $5,400$$ $3,100$Interest payable$3000$Deferred revenue$1,200800$Income taxes payable$7501,200$Notes payable $($due $12/31/2026)9,0000$Common stock$12,00012,000$Retained earnings$7,9006,300$Total liabilities and shareholders' equity$ $36,550$$ $23,400$

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

Cash dividends of $$3,000$ were declared and paid.

Equipment costing $$8,000$ was purchased with cash.

Equipment with a book value of $$2,500($cost of $$5,500$ less accumulated depreciation of $$3,000)$ was sold for $$2,500.$

Depreciation of $$3,600$ 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.

Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.