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): $ 20,660 9,210 3040 4,120 INCOME STATEMENT Sales revenue Expenses Cost of goods sold $ Depreciation expense Salaries expense Rent expense Insurance expense Utilities expense Interest expense on bonds Loss on sale of investments Net loss 3.000 1.070 750 880 650 $ 22.720 2.060) SELECTED BALANCE SHEET ACCOUNTS Prior Year Current Year Merchandise inventory 73 $ 84 Accounts receivable 544 451 Accounts payable 227 265 Salaries payable Rent payable Prepaid rent 25 Prepaid insurance 19 14 Other Data: The company issued $22,000, 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.) OMEGA COMPANY Cash Flows from Operating Activities Direct Method Cash flows from operating activities: Cash receipts from customers Cash payments to suppliers Cash payments for salaries Cash payments for rent Cash payments for insurance Cash payments for utilities Cash payments for bond interest 20.753 9,183 29.936 2. Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (List cash outflows as negative amounts. Enter your answers in thousands.) OMEGA COMPANY Cash Flows from Operating Activities Indirect Method Cash flows from operating activities: Adjustments to reconcile net loss to net cash provided by operating activities: Total adjustments