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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		$3,874
Cost of goods sold		1,626
Gross Profit		2,248
Expenses:
Other expenses	$790
Depreciation expense	170
Total operating expenses		960
Profit from operations		1,288
Income tax expense		288
Profit		$1,000

Paddleboard Inc.
Post-Closing Trial Balance
(000s)
	December 31
Account	2017	2016
Cash	$3,780	$1,930
Receivables	2,880	2,170
Merchandise inventory	2,650	3,220
Property, plant and equipment	3,130	2,810
Accumulated depreciation	2,010	1,840
Investments	2,170	2,330
Accounts payable	2,010	1,530
Accrued liabilities	320	480
Bonds payable	3,130	3,300
Common shares	3,130	2,180
Retained earnings	4,010	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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