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 or deferred income taxes at any time during the period. $ 283.4 (161.4) 122.0 (84.1) SYNTRIC COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales Cost of goods sold Gross margin Salaries expense $32.6 Insurance expense 19.3 Depreciation expense 13.5 Depletion expense 5.8 Interest expense 12.9 Gains and losses: Gain on sale of equipment 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 Cash paid to employees Cash paid for interest Cash paid for insurance Cash paid for income tax Net cash flows from operating activities 20.5 (7.6) 50.8 (25.4) $ 25.4 $ 232.0 (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 1 decimal place (I.e., 5,500 should be entered as 5.5). Amounts to be deducted should be indicated with a minus sign.) 25.4 13.5 5.8 Answer is not complete. RECONCILIATION OF NET INCOME TO NET CASH FLOWS FROM OPERATING ACTIVITIES Cash flows from operating activities: Net income $ Adjustments for noncash effects: Depreciation expense Depletion expense Loss on sale of land Gain on sale of equipment Increase in accounts payable Changes in operating assets and liabilities: Increase in accounts payable Increase in accounts receivable Increase in income tax payable Increase in interest payable Increase in salaries payable >>>>IX 7.6 12.9 X ololololo 14.6 14.6 Changes in operating assets and liabilities: Increase in accounts payable Increase in accounts receivable Increase in income tax payable Increase in interest payable Increase in salaries payable Gain on sale of land Increase in interest payable Decrease in accounts payable Net cash flows from operating activities O $ 79.8