Presented below are the 2018 income statement and comparative balance sheets for Santana Industries. SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2018 (s in thousands) Sales revenue $ 15,850 5,000 Service revenue Total revenue $20,850 Operating expenses: Cost of goods sold 8,000 3,200 2,300 Selling General and administra tive Total operating expenses Operating income Interest expense Income before income taxes Income tax expense Net income 13,500 7,350 280 7,070 3,300 $ 3,770 Dec. 31, Dec. 31, 20182_ Balance Sheet Information ($ in thousands) Assets: Cash Accounts receivable Inventory Prepaid rent Plant and equipment 2017 $ 8,150 4,100 5,600 230 16,100 2,920 3,000 3,800 460 13,600 Less: Accumulated depreciation (5,900(5,300) Total assets $28,280 $18,480 Liabilities and Shareholders' Equity: Accounts payable Interest payable Deferred service revenue Income taxes payable Loan payable (due 12/31/2020) Common stock Retained earnings $ 3,000 1,900 960 630 6,600 10,800 6,110 680 960 10,800 4,140 $28,280 $18,480 Total liabilities and shareholders equity Additional information for the 2018 fiscal year (S in thousands): 1 Cash dividends of $1,800 were declared and paid. 2. Equipment costing $5,600 was purchased with cash. 3. Equipment with a book value of $1,300 (cost of $3,100 less accumulated depreciation of $1,800) was sold for $1,300. 4. Depreciation of $2,400 is included in operating expenses. Required Prepare Santana Industries' 2018 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.) SANTANA INDUSTRIES Statement of Cash Flows For the Year Ended December 31, 2018 (S in thousands)