Tranquil Tub Statement of Cash Flows Year Ended December 31, 20X1 ($ in thousands) Cash flows from operating activities Cash collections from customers $2 320,00 Cash payments Cash payments to suppliers $545,00 Cash payments to employees $205,00 Cash payments for other expenses $95,00 Cash payments for interest $10,00 Cash payments for income taxes $41,00 $896,00 Net cash provided by (used for) operating activities $1 424,00 Cash flows from investing activities Purchase of plant and facilities $300,00 Net cash provided by (used for) investing activities $300,00 Cash flows from financing activities Proceeds from issuance of long term debt $60,00 Paid dividends $50,00 Net cash provided by (used for) financing activities $10,00 Net increase (decrease) in cash $1 134,00 Cash balance, December 31, 20X0 $160,00 Cash balance, December 31, 20X1 $1 294,00 Tranquil Tub is a wholesale distribtr of ceramic tiles Its cash balance on December 31, 20X0, was $160,000 and net income for 20X1 was $1,615,000 Its 20X1 transactions affecting income or cash follow ($ in thousands) The companys statement of cash flows with operating activities formatted using the direct method for 20X1 is as follows Requirement Prepare a supporting schedule that reconciles net income to net cash provided by operating activities (Enter dollar amounts in thousands Use parentheses or a minus sign for numbers to be subtracted Leave any unused cells blank Tranquil Tub Supporting Schedule to Statement of Cash Flows Reconcillation of Net Income to Net Cash Flows form Operating Activities Tranquil Tub S R iting Activities ($ in thousands) Cash collections from customers Cash payments for income taxes C Cash payments for interest Cash payments for other expenses Cash payments to employees Cash payments to suppliers Depreciation Net decrease in salary and wages payable Net increase in accounts payable Net increase in accounts receivable Net increase in inventory Net increase in taxes payable Paid dividends Proceeds from issuance of long term debt Purchase of plant assets Net cash provided by (used for) operating activities Tranquil Tub Supporting Schedule to Statement of Cash Flows Reconciliation of Net Income to Net Cash Flows from Operating Activities Year Ended December 31, 20X1 ($ in thousands) Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by (used for) operating activities Net cash provided by (used for) operating activities

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Tranquil Tub Statement of Cash Flows Year Ended December 31, 20X1 ($ in thousands) Cash flows from operating activities Cash collections from customers $2.320,00 Cash

Tranquil Tub

Statement of Cash Flows

Year Ended December 31, 20X1	($ in thousands)
Cash flows from operating activities
Cash collections from customers		$2.320,00
Cash payments
Cash payments to suppliers	-$545,00
Cash payments to employees	-$205,00
Cash payments for other expenses	-$95,00
Cash payments for interest	-$10,00
Cash payments for income taxes	-$41,00	-$896,00
Net cash provided by (used for) operating activities		$1.424,00
Cash flows from investing activities
Purchase of plant and facilities	-$300,00
Net cash provided by (used for) investing activities		-$300,00
Cash flows from financing activities
Proceeds from issuance of long-term debt	$60,00
Paid dividends	-$50,00
Net cash provided by (used for) financing activities		$10,00
Net increase (decrease) in cash		$1.134,00
Cash balance, December 31, 20X0		$160,00
Cash balance, December 31, 20X1		$1.294,00

Tranquil Tub is a wholesale distribtr of ceramic tiles. Its cash balance on December 31, 20X0, was $160,000 and net income for 20X1 was $1,615,000. Its 20X1 transactions affecting income or cash follow ($ in thousands).

The companys statement of cash flows with operating activities formatted using the direct method for 20X1 is as follows.

Requirement

Prepare a supporting schedule that reconciles net income to net cash provided by operating activities. (Enter dollar amounts in thousands. Use parentheses or a minus sign for numbers to be subtracted. Leave any unused cells blank

Tranquil Tub

Supporting Schedule to Statement of Cash Flows

Reconcillation of Net Income to Net Cash Flows form Operating Activities

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Tranquil Tub S R iting Activities ($ in thousands) Cash collections from customers Cash payments for income taxes C Cash payments for interest Cash payments for other expenses Cash payments to employees Cash payments to suppliers Depreciation Net decrease in salary and wages payable Net increase in accounts payable Net increase in accounts receivable Net increase in inventory Net increase in taxes payable Paid dividends Proceeds from issuance of long-term debt Purchase of plant assets Net cash provided by (used for) operating activities Tranquil Tub Supporting Schedule to Statement of Cash Flows Reconciliation of Net Income to Net Cash Flows from Operating Activities Year Ended December 31, 20X1 ($ in thousands) Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by (used for) operating activities Net cash provided by (used for) operating activities