Presented below are the 2021 income statement and comparative balance sheets for Santana Industries.

SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ 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)	Dec. 31, 2021				Dec. 31, 2020
Assets:
Cash	$	10,300			$	4,000
Accounts receivable		6,500				4,200
Inventory		8,000				5,000
Prepaid rent		350				700
Equipment		18,500				16,000
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		300				0
Deferred revenue		1,200				800
Income taxes payable		750				1,200
Notes payable (due 12/31/2023)		9,000				0
Common stock		12,000				12,000
Retained earnings		7,900				6,300
Total liabilities and shareholders' equity	$	36,550			$	23,400

Additional information for the 2021 fiscal year ($ in thousands):

1. Cash dividends of $3,000 were declared and paid.
2. Equipment costing $8,000 was purchased with cash.
3. Equipment with a book value of $2,500 (cost of $5,500 less accumulated depreciation of $3,000) was sold for $2,500.
4. Depreciation of $3,600 is included in operating expenses.

Required: Prepare Santana Industries' 2021 statement of cash flows, using the indirect method to present cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.)

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