9-23 (Algo) Cash flows from operations-indirect method LO 10 The financial statements of Simon Co. Include the following Items (amounts in thousands): Income Statement Net income Depreciation and amortization expense At December 31 Inventory Balance Sheets Accounts receivable Accounts payable 2020 2019 $124 $160 198 107 72 156 Income taxes payable 54 32 For the Year Ended December 31, 2020 $463 336 Required: a. Calculate the net cash flow provided by operations for Simon Co. for the year ended December 31, 2020. (Enter your answer In thousands. (l.e., 20,000 should be entered as 20)) Net cash provided (used) by operating activities b. Net Income and cash flows provided by operations may differ because of the timing of cash receipts and payments versus the timing of recognition on the income statement. True False