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The income statement and the cash flows from the operating activities section of the statement of cash flows are provided below for Syntric Company. The

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The income statement and the cash flows from the operating activities section of the statement of cash flows are provided below for Syntric Company. The merchandise inventory account balance neither Increased nor decreased during the reporting period. Syntric had no liability for insurance, deferred income taxes, or interest at any time during the period. SYNTRIC COMPANY Income Statement For the Year Ended December 31, 2021 (5 in thousands) Sales $ 276.8 Cost of goods sold (182.0) Gross margin 94.8 Salaries expense $25.4 Insurance expense 18.1 Depreciation expense 8.5 Depletion expense 4.5 Interest expense 11.7 (632) Gains and losses Gain on sale of equipment 26.0 Loss on sale of land (7.0) Income before tax 45.6 Income tax expense (22.0) Net income $ 22.8 Cash Flows from Operating Activities: Cash received from customers 5.255.0 Cash paid to suppliers (170,0) Cash paid to employees (21.0) Cash paid for interest (10.1 Cash paid for insurance (14.0) Cash paid for income tax Het cash flows from operating activities $ 28.1 Required: Prepare a schedule to reconcile net income to net cash flows from operating activities. (Enter your answers in thousands rounded to RECONCILIATION OF NET INCOME TO NET CASH FLOWS FROM OPERATING ACTIVITIES Cash flows from operating activities Adjustments for noncash effects Changes in operating assets and liabilities Net cash flows from operating activities $ 00

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