The financial statements of Simon Co. include the following items (amounts in thousands):

Income Statement
For the Year Ended December 31, 2014
($000 omitted)
Net income		$	429
Depreciation and amortization expense			318

	At December 31
Balance Sheets	2014	2013
Accounts receivable	$	130	$	162
Inventory		156		140
Accounts payable		39		153
Income taxes payable		61		42

Required:

a.	Calculate the net cash flow provided by operations for Simon Co. for the year ended December 31, 2014.(Enter your answer in thousands. (i.e., 20,000 should be entered as 20))
	Net cash provided by operating activities:

b.	Net income and cash flows provided by operations may differ because of the timing of cash receipts and payments versus the timing of recognition on the income statement.

True/ or False