Southeast Ale Company is a microbrewery in Anchorage. By the end of 20X1, the company's cash balance had dropped to $12,000, despite net income of $168,000 in 20X1. Its transactions affecting income or cash in 20X1 were as follows (in thousands): (Click the icon to view the transactions.) Requirement 1. Prepare a statement of cash flows using the direct method for reporting cash flows from operating activities. Omit 4. supporting schedules Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use parentheses or a minus sign for numbers to be subtracted.) Southeast Ale Company nStatement of Cash Flows For the Year Ended December 31, 20X1 (In thousands) Cash Flows from Operating Activities Cash payments Ac 5) Total cash payments Net cash provided by (used in) operating activities Cash Flows from Investing Activities Net cash provided by (used for) investing activities Cash Flows from Financing Activities Net cash provided by (used in) financing activities Net increase (decrease) in cash Cash, January 1, 20X1 Cash, December 31, 20X1 Cash, December 31, 20X1 1: More Info 1. Sales were $2,722, all on credit. Cash collections from customers were $2,683. 2. The cost of items sold was $1,889. 3. Inventory increased by $72 4. Cash payments on trade accounts payable were $1,950 5. Payments to employees were $319; accrued wages payable decreased by $31. 6. Other operating expenses, all paid in cash, were $103. 7. Interest expense, all paid in cash, was $21 8. Income tax expense was $109; cash payments for income taxes were $114. 9. Depreciation was $144 10. A warehouse was acquired for $549 cash. 11. Equipment was sold for $18 cash; original cost was $194, accumulated depreciation was $176. 12. Received $21 for issue of common stock. 13. Retired long-term debt for $19 cash. 14. Paid cash dividends of $87 O Cash payments for income taxes O Cash payments to employees O Cash payments to suppliers O Cash collections from customers O Cash payments for interest O Cash payments for other operating expenses O Decrease in income taxes payable O Decrease in salaries and wages payable O Increase in inventory O Depreciation O Increase in accounts payable O Increase in accounts receivable O Proceeds from retirement of long-term debt O Proceeds from sale of equipment O Purchase of warehouse O Payment of dividends O Proceeds from issuance of common stock O Proceeds from issue of long-term debt (2) O O Cash payments for income taxes O Cash payments to employees O Cash payments to suppliers O Cash collections from customers O Cash payments for interest O Cash payments for other operating expenses O Decrease in income taxes payable O Decrease in salaries and wages payable O Increase in inventory O Depreciation O Increase in accounts payable O Increase in accounts receivable O Proceeds from retirement of long-term debt O Proceeds from sale of equipment O Purchase of warehouse O Payment of dividends O Proceeds from issuance of common stock O Proceeds from issue of long-term debt O Cash payments for income taxes O Cash payments to employees O Cash payments to suppliers O Cash collections from customers O Cash payments for interest O Cash payments for other operating expenses ODecrease in income taxes payable O Decrease in salaries and wages payable O Increase in inventory O Depreciation O Increase in accounts payable O Increase in accounts receivable O Proceeds from retirement of long-term debt O Proceeds from sale of equipment O Purchase of warehouse O Payment of dividends O Proceeds from issuance of common stock O Proceeds from issue of long-term debt (4) 0 O Cash payments for income taxes O Cash payments to employees O Cash payments to suppliers O Cash collections from customers O Cash payments for interest O Cash payments for other operating expenses O Decrease in income taxes payable O Decrease in salaries and wages payable O Increase in inventory O Payment of dividends OProceeds from issuance of common stock O Proceeds from issue of long-term debt O Increase in accounts payable O Increase in accounts receivable O Proceeds from retirement of long-term debt O Proceeds from sale of equipment O Purchase of warehouse O Cash payments for income taxes O Cash payments to employees O Cash payments to suppliers (5) O O Cash collections from customers O Cash payments for interest O Cash payments for other operating expenses O Decrease in income taxes payable O Decrease in salaries and wages payable O Increase in inventory O Depreciation O Increase in accounts payable O Increase in accounts receivable O Proceeds from retirement of long-term debt O Proceeds from sale of equipment O Purchase of warehouse O Payment of dividends D Proceeds from issuance of common stock O Proceeds from issue of long-term debt O Cash payments for income taxes O Cash payments to employees O Cash payments to suppliers O Cash collections from customers O Cash payments for interest O Cash payments for other operating expenses O Decrease in income taxes payable O Decrease in salaries and wages payable O Increase in inventory O Depreciation O Increase in accounts payable O Increase in accounts receivable O Proceeds from retirement of long-term debt O Proceeds from sale of equipment O Purchase of warehouse O Payment of dividends O Proceeds from issuance of common stock O Proceeds from issue of long-term debt O Cash collections from customers O Cash payments for interest 0 cash payments for other operating expenses O Cash payments for income taxes O Cash payments to employees O Cash payments to suppliers 0 Depreciation nput O Increase in accounts payableO Increase in salaries and wages payabe O Cash collections from customers O Cash payments for interest O Cash payments for other operating expenses O Cash payments for income taxes O Cash payments to employees O Cash payments to suppliers O Depreciation O Increase in accounts payable OIncrease in salaries and wages payable O Increase in accounts receivable O Payment of dividends O Increase in income taxes payable O Proceeds from issuance of common stock O Increase in inventory O Proceeds from retirement of long-term debt O Proceeds from sale of equipment O Purchase of warehouse O Proceeds from issue of long-term debt O Cash payments for income taxes O Cash payments to employees O Cash payments to suppliers O Depreciation (8) O O Cash collections from customers O Cash payments for interest O Cash payments for other operating expenses Increase in accounts payable Increase in salaries and wages payable O Increase in accounts receivable O Payment of dividends O Increase in income taxes payable O Proceeds from issuance of common stock O Increase in inventory O Proceeds from retirement of long-term debt O Proceeds from sale of equipment O Proceeds from issue of long-term debt Purchase of warehouse O Cash payments for income taxes O Cash payments to employees O Cash payments to suppliers (9) O O Cash collections from customers O Cash payments for interest O Cash payments for other operating expenses O Depreciation Increase in accounts payable O increase p salaries and wages payable O Increase in accounts receivable O Payment 8t dividends O Increase in income taxes payable O Payment for retirement of long-term debt O Increase in inventory O Proceeds from issue of long-term debt O Proceeds from sale of equipment O Purchase of warehouse O Proceeds from issuance of common stock O Cash payments for income taxes O Cash payments to employees O Cash payments to suppliers O Depreciation O Cash collections from customers O Cash payments for interest O Cash payments for other operating expenses Increase in accounts payable Increase in salaries and wages payable O Increase in accounts receivable O Payment of dividends O Increase in income taxes payable O Payment for retirement of long-term debt O Increase in inventory O Proceeds from issue of long-term debt O Proceeds from sale of equipment 0 Purchase of warehouse O Proceeds from issuance of common stock O Cash payments for income taxes O Cash payments to employees O Cash payments to suppliers 10) O D Cash collections from customers O Cash payments for interest O Cash payments for other operating expenses Depreciation D Increase in accounts payable Increase in salaries and wages payable D Increase in accounts receivable Payment of dividends O Increase in income taxes payable O Payment for retirement of long-term debt O Proceeds from issuance of common stock Increase in inventory O Proceeds from issue of long-term debt O Proceeds from sale of equipment O Purchase of warehouse O Cash payments for income taxes O Cash payments to employees O Cash payments to suppliers 10/O O Cash collections from customers OCash payments for interest O Cash payments for other operating expenses Depreciation D Increase in accounts payable Increase in salaries and wages payable O Increase in accounts recelvable O Payment of dividends O Increase in income taxes payable Payment for retirement of long-term debt O Increase in inventory O Proceeds from issue of long-term debt O Proceeds from sale of equipment O Purchase of warehouse O Proceeds from issuance of common stock Clear Al