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Paddleboard Inc. began operations on January 1, 2016. Its post-closing trial balance at December 31, 2016 and 2017, is shown below along with some other information.

Paddleboard Inc.
Income Statement
For Year Ended December 31, 2017
(000s)
Revenues:
Sales		$3,884
Cost of goods sold		1,426
Gross Profit		2,458
Expenses:
Other expenses	$780
Depreciation expense	110
Total operating expenses		890
Profit from operations		1,568
Income tax expense		488
Profit		$1,080

Paddleboard Inc.
Post-Closing Trial Balance
(000s)
	December 31
Account	2017	2016
Cash	$3,880	$1,940
Receivables	2,890	2,180
Merchandise inventory	2,660	3,230
Property, plant and equipment	3,140	2,820
Accumulated depreciation	2,020	1,910
Investments	2,180	2,340
Accounts payable	2,020	1,540
Accrued liabilities	320	480
Bonds payable	3,740	3,800
Common shares	2,630	1,650
Retained earnings	4,020	3,130

Other information regarding Paddleboard Inc. and its activities during 2017:

1. Assume all accounts have normal balances. 2. Cash dividends were declared and paid during the year. 3. There were no sales of property, plant, and equipment assets during the year. 4. Investments were sold for cash at their original cost.

Required: Using the information provided, prepare a statement of cash flows (applying the indirect method) for the year ended December 31, 2017. (List any deduction in cash and cash outflows as negative amounts. Enter amounts in thousands, not in dollar.)

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