Portions of the financial statements for Parnell Company are provided below. $ 750 11 $ 761 PARNELL COMPANY Income Statement For the Year Ended December 31, 2018 ($ in 2005) Revenues and gains: Sales Gain on sale of buildings Expenses and loss: Cost of goods sold Salaries Insurance Depreciation Interest expense Loss on sale of machinery Income before tax Income tax expense Net income $ 275 115 35 118 13 601 160 80 $ 80 Change $ 24 PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2018 and 2017 ($ in 200s) Year 2018 2017 Cash $ 129 $ 105 Accounts receivable 319 221 Inventory 326 420 Prepaid insurance 71 Accounts payable 205 122 Salaries payable 112 Deferred income tax liability 70 Bond discount 180 205 98 (94) (12) 83 14 98 (25) Prepare the cash flows from operating activities section of the statement of cash flows for Parnell 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 Cash paid to suppliers Cash paid to employees Cash paid for insurance Cash paid for interest Cash paid for income taxes Net cash flows from operating activities