Presented below are the $2024$ income statement and comparative balance sheets for Santana Industries.SANTANA INDUSTRIESIncome StatementFor the Year Ended December $31,2024($$ in thousands$)$Sales revenue$ $15,050$ Service revenue$4,200$ Total revenue $ $19,250$Operating expenses: Cost of goods sold$7,600$ Selling expense$2,800$ General and administrative expense$1,900$ Total operating expenses $12,300$Operating income $6,950$Interest expense $190$Income before income taxes $6,760$Income tax expense $2,000$Net income $ $4,760$Balance Sheet Information $($$ in thousands$)$December $31,2024$December $31,2023$Assets: Cash$ $8,700$$ $2,560$Accounts receivable$3,3002,600$Inventory$4,8003,400$Prepaid rent$190380$Equipment$15,30012,800$Less: Accumulated depreciation$(5,500)(4,900)$Total assets$ $26,790$$ $16,840$Liabilities and Shareholders Equity: Accounts payable$ $2,200$$ $1,500$Interest payable$1400$Deferred revenue$880640$Income taxes payable$590880$Notes payable $($due $12/31/2026)5,8000$Common stock$10,40010,400$Retained earnings$6,7803,420$Total liabilities and shareholders' equity$ $26,790$$ $16,840$Additional information for the $2024$ fiscal year $($$ in thousands$)$:Cash dividends of $$1,400$ were declared and paid.Equipment costing $$4,800$ was purchased with cash.Equipment with a book value of $$900($cost of $$2,300$ less accumulated depreciation of $$1,400)$ was sold for $$900.$Depreciation of $$2,000$ 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.