Required information (The following information applies to the questions displayed below.) Portions of the financial statements for Parnell Company are provided below. $ 791 PARNELL COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues and gains: Sales $ 780 Gain on sale of building 11 Expenses and loss: Cost of goods sold $ 290 Salaries 118 Insurance 38 Depreciation 121 Interest expense 48 Loss on sale of equipment 12 Income before tax Income tax expense Net income 627 164 82 $ 82 PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) Year 2021 2020 Cash $ 132 $ 102 Accounts receivable 322 218 Inventory 323 423 Prepaid insurance 68 86 Accounts payable 208 119 Salaries payable 106 95 Deferred tax liability 64 54 Bond discount 186 202 Change $ 30 104 (100) (18) 89 11 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: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities $ 0