Portions of the financial statements for Parnell Company are provided below. $ 830 PARNELL COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues and gains: Sales $ 820 Gain on sale of building 19 Expenses and loss: Cost of goods sold $ 310 Salaries 122 Insurance 42 Depreciation 125 Interest expense 52 Loss on sale of equipment 13 Income before tax Income tax expense Net income 664 166 83 $ 83 PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) Year 2021 2020 Cash $ 138 $ 98 Accounts receivable 328 214 Inventory 319 429 Prepaid insurance 64 92 Accounts payable 214 115 Salaries payable 106 91 Deferred tax liability 64 54 Bond discount 188 204 Change $ 40 114 (110) (28) 99 15 10 (16) Required: 2. Prepare the cash flows from operating activities section of the statement of cash flows for Parnell Company using the indirect method. (Enter your answers in thousands (i.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.) Cash Flows from Operating Activities: Net income Adjustments for noncash effects: Changes in operating assets and liabilities: Depreciation expense Net cash flows from operating activities 0