INCOME STATEMENT
Sales revenue					$	20,760
Expenses
Cost of goods sold	$	9,130
Depreciation expense		2,940
Salaries expense		4,260
Rent expense		2,940
Insurance expense		960
Utilities expense		800
Interest expense on bonds		720
Loss on sale of investments		720				22,470
Net loss					$	(1,710	)

SELECTED BALANCE SHEET ACCOUNTS
	Current Year				Prior Year
Merchandise inventory	$	87			$	74
Accounts receivable		442				539
Accounts payable		257				214
Salaries payable		34				21
Rent payable		13				26
Prepaid rent		18				21
Prepaid insurance		28				8

Other Data:

The company issued $24,000, 6 percent bonds payable at par during the year.

Required:

1. Prepare the cash flows from operating activities section of the statement of cash flows using the direct method. (List cash outflows as negative amounts. Enter your answers in thousands.)

2. Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (List cash outflows and losses as negative amounts. Enter your answers in thousands.)

OMEGA COMPANY Cash Flows from Operating Activities Direct Method (in thousands) Cash flows from operating activities: OMEGA COMPANY Cash Flows from Operating Activities Indirect Method (in thousands) Cash flows from operating activities: Adjustments to reconcile net loss to net cash provided by operating activities: Total adiustments