Required information [The following information applies to the questions displayed below.] Portions of the financial statements for Parell Company are provided below. PARNELL COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues and gains: Sales $720 Gain on sale of building 11 Expenses and loss: Cost of goods sold $ 260 Salaries 112 Insurance 32 Depreciation 115 Interest expense on of equipment 10 Income before tax 160 Income tax expense 80 Net income $ 80 $ 731 PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) Year 2e21 2020 Cash $ 126 $ 188 Accounts receivable 316 224 Inventory Prepaid insurance 69 88 Accounts payable 282 125 Salaries payable 118 101 Deferred tax liability 76 60 Bond discount 180 208 329 417 Change $ 18 92 (88) (11) 77 17 16 (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., 10.000 should be entered as 10). Amounts to be deducted should be indicated with a minus slgn.) Cash Flows from Operating Activities: Net cash flows from operating activities