Presented below are the 2024 income statement and comparative balance sheets for Santana Industries. Additional...
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Presented below are the 2024 income statement and comparative balance sheets for Santana Industries. Additional information for the 2024 fiscal year (\$ in thousands): 1. Cash dividends of $2,100 were declared and paid. 2. Equipment costing $6,200 was purchased with cash. 3. Equipment with a book value of $1,600 (cost of $3,700 less accumulated depreciation of $2,100 ) was sold for $1,600. 4. Depreciation of $2,700 is included in operating expenses. The accounting records of Hampton Company provided the data below ( $ in thousands). Required: Prepare a reconciliation of net income to net cash flows from operating activities. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands
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