Portions of the financial statements for Clear Transmissions Company are provided below:

CLEAR TRANSMISSIONS COMPANY

Income Statement

For the Year Ended December $31,2024($$ in thousands$)$

Sales $ $1,320$

Cost of goods sold $500$

Gross margin $820$

Salaries expense $ $220$

Depreciation expense $180$

Amortization expense $10$

Interest expense $40$

Loss on sale of cash equivalents $6456$

Income before taxes $364$

Income tax expense $182$

Net Income $ $182$

CLEAR TRANSMISSIONS COMPANY

Selected Accounts from Comparative Balance Sheets

December $31,2024$ and $2023($$ in thousands$)$

Year Change

$20242023$

Cash $ $102$ $ $100$ $ $2$

Accounts receivable $220232(12)$

Inventory $440450(10)$

Accounts payable $1401346$

Salaries payable $8086(6)$

Interest payable $25205$

Income tax payable $15105$

Required:

Prepare the cash flows from operating activities section of the statement of cash flows for Clear Transmissions Company using the direct method.

Note: Enter your answers in thousands $($i$.$e$.,5,000$ should be entered as $5).$ Cash outflows should be indicated with a minus sign. Required:

Prepare the cash flows from operating activities section of the statement of cash flows for Clear Transmissions Company using the indirect method.

Note: Enter your answers in thousands $($i$.$e$.,5,000$ should be entered as $5).$ Cash outflows should be indicated with a minus sign.