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 9,220 3,020 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 1,090 540 780 22,570 $ (1,910) Prior Year $ 71 SELECTED BALANCE SHEET ACCOUNTS Current Year Merchandise inventory $ 94 Accounts receivable 450 Accounts payable Salaries payable Rent payable Prepaid rent Prepaid insurance 533 225 Other Data: The company issued $18,000, 6 percent bonds payable at par during the year. 1. Prepare the cash flows from operating activities section of the statement of cash flows using the direct method. (Llst 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: Cash receipts from customers Cash payments to suppliers $ 20.577 $ 20.577 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