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Required information The following information applies to the questions displayed below) Portions of the financial statements for Parnell Company are provided below LCO the Year Dec, 2021 in the aves and a Sales SAGO Giin on sale of an 11 Expens to Cost of 53 Sales Inn 2 Depreciation 13 Intereste SC Los leo Theoreta Thonetan Net Inco 136 PANELL CO Selected at tro con DC31201 15th Bohet 2020 ve 3146 315 Cast Accounts receivable Tary padine Accounts payable Salable Deferred to ality and dat 34 20 437 100 11 72 111 27 14 Required 2. Prepare the cash flows from operating actes section of the statement of cash flows for Pamell Company using the Indirect method (Enter your answers in thousandste, 10,000 should be entered as 101 Amounts to be deducted should be indicated with a minus sign) Cash Flows from Operating Acties Adjustments for noncash affects Changed in.cuting assets and be Net cash flows from operating active Required information The following information applies to the questions displayed below! Portions of the financial statements for Parnell Company are provided below. $ 871 PARNELE COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands Revenues and gains: Sales $ 860 Gain on sale of building 11 Expenses and loss: Cost of goods sold $ 330 Salaries 126 Insurance 46 Depreciation 129 Interest expense 56 Loss on sale of equipment 12 Income before tax Income tax expense Net income 699 172 86 586 PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 (5 in thousands) Year 2021 2029 Cash 5 146 $ Accounts receivable 336 Inventory 315 437 Prepaid insurance 60 103 Accounts payable 222 111 Salaries payable 114 87 Deferred tax liability 72 58 Bond discount 184 $ 210 Change $ 52 126 (122 (40) 27 14 (28) 212 Required: 2. Prepare the cash flows from operating activities section of the statement of cash flows for Parnell Company using the indirect method. (Enter your answers in thousands (i.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.) Cash Flows from Operating Activities: Adjustments for noncash effects