Syntric Company. The merchandise inventory account balance neither increased nor decreased during the reporting period. Syntric had no liability for insurance or deferred income taxes at any time during the period. Sales SYNTRIC COMPANY Income Statement For the Year Ended December 31, 2021 Cost of goods sold Gross margin ($ in thousands) $ 283.4 (161.4) 122.0 Salaries expense $32.6 Insurance expense 19.3 Depreciation expense 13.5 Depletion expense 5.8 Interest expense 12.9 (84.1) Gains and losses: Gain on sale of equipment 20.5 Loss on sale of land Income before tax Income tax expense Net income Cash Flows from Operating Activities: Cash received from customers Cash paid to suppliers (7.6) 50.8 (25.4) $ 25.4 $ 232.0 Cash paid to employees Cash paid for interest Cash paid for insurance Cash paid for income tax Net cash flows from operating activities. (148.0) (27.0) (10.7) (14.6) (13.0) $ 18.7 Required: Prepare a schedule to reconcile net income to net cash flows from operating activities. (Enter your answers in thousands rounded to 4 dial al li E 500ld be seen on ke dad bald be inclin