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Portions of the financial statements for Clear Transmissions Company are provided below. CLEAR TRANSMISSIONS COMPANY Income Statement For the Year Ended December 31, 2018 ($

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

CLEAR TRANSMISSIONS COMPANY Income Statement For the Year Ended December 31, 2018 ($ in 000s)
Sales $ 1,320
Cost of goods sold 500
Gross margin 820
Salaries expense $ 220
Depreciation expense 180
Patent amortization expense 10
Interest expense 40
Loss on sale of cash equivalents 6 456
Income before taxes 364
Income tax expense 182
Net Income $ 182

CLEAR TRANSMISSIONS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s)
Year
2018 2017 Change
Cash $ 102 $ 100 $ 2
Accounts receivable 220 232 (12 )
Inventory 440 450 (10 )
Accounts payable 140 134 6
Salaries payable 80 86 (6 )
Interest payable 25 20 5
Income taxes payable 15 10 5

Required: Prepare the cash flows from operating activities section of the statement of cash flows for Clear Transmissions Company using the direct method. (Enter your answers in thousands (i.e., 5,000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign.) Cash Flows from Operating Activities:

Cash received from customers$1,332Cash

paid to suppliers(484)

Cash paid to employees(226)

Cash paid for interest(35)

Cash paid for income taxes(177)

Cash decrease from sale of cash equivalents?

Net cash flows from operating activities $410

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