Portions of the financial statements for Parnell Company are provided below.

PARNELL COMPANY Income Statement For the Year Ended December 31, 2016 ($ in 000s)

Revenues and gains:
Sales	$720
Gain on sale of buildings	11		$	731
Expenses and loss:
Cost of goods sold	$260
Salaries	112
Insurance	32
Depreciation	115
Interest expense	42
Loss on sale of machinery	10			571
Income before tax				160
Income tax expense				80
Net income			$	80

PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2016 and 2015 ($ in 000s)
	Year
	2016	2015	Change
Cash	$126	$108	$18
Accounts receivable	316	224	92
Inventory	329	417	(88	)
Prepaid insurance	69	80	(11	)
Accounts payable	202	125	77
Salaries payable	118	101	17
Deferred income tax liability	76	60	16
Bond discount	180	208	(28	)

Required:

1.

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:
Net cash flows from operating activities

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., 5,000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign.)

Cash Flows from Operating Activities:
Adjustments for noncash effects:
Changes in operating assets and liabilities:
Net cash flows from operating activities