Omega Company's accountants have just completed the income statement and balance sheet for the year and have provided the following information (dollars in thousands): $ 20,620 INCOME STATEMENT Sales revenue Expenses Cost of goods sold $ 9,100 Depreciation expense 2,910 Salaries expense 4,150 Rent expense 2,950 Insurance expense 930 Utilities expense 900 Interest expense on bonds 960 Loss on sale of investments 740 Net loss 22,640 $ (2,020) SELECTED BALANCE SHEET ACCOUNTS Current Year $ Merchandise inventory Accounts receivable Accounts payable Salaries payable Rent payable Prepaid rent Prepaid insurance 89 441 248 38 6 Prior Year $ 69 535 229 22 12 20 17 29 5 Other Data: The company issued $24,000, 8 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.) 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.) OMEGA COMPANY Cash Flows from Operating Activities Direct Method (in thousands) Cash flows from operating activities: 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 Indirect Method (in thousands) Cash flows from operating activities: Adjustments to reconcile net loss to net cash provided by operating activities: Total adjustments