Ello Antiques had a cash balance on December 31, 20X0, o S60,000. Its not income for 20x1 was $599,000 ts 20x1 transactions affecting income or cash were in thousands Click the icon to view the transactions.) Ello Antiques' 20x1 statement of cash flow using the direct method for reporting cash flows from operating activities is as follows: Click the icon to view the statement) Requirement 1. Prepare a supporting schedule that reconciles net income to net cash provided by operating activities for Elio Antiques (Use patenteres or a minun sign for amounts to be subtractod.) Elio Antiques Supporting Schedule to Statement of Cash Flows Reconciliation of Net Income to Net Cash Flows from Operating Activities For the Year Ended December 31, 20X1 Cash Flows from Operating Activities Net Income Adjustments to reconcile not income to net cash provided by used in) operating activities: 1 (in thousands) lalalalalle Net cash provided by used in operating activities 1: More Info 1. Sales of $1,900, all on credit. Cash collections from customers, $1.200. 2. The cost of items sold, 5950. Purchases of inventory totaled 5960 Inventory and accounts payable were affected accordingly 3. Cash payments on trade accounts payable, $835 4. Salaries and wages: accrued, 5250 paid in cash $215 5. Depreciation $29. 6 Interest expense, all paid in cash. $9 7. Other expenses, o paid in cash, $34 8. Income taxes accrued, 335, income taxes paid in cash, 525 9. Hought plant and facilities for $198 cash 10. Issued debit for 5160 cash 11. Pald cash dividends of $12 in thousand 5 1 200 (835) (215) (25) Elio Antiques Statement of Cash Flows For the Year Ended December 31, 20x1 Cash Flows from Operating Activities Cash collections from customers Cash payments Cash payments to suppliers Cash payments to employees Cash payments for other expenses Cash payments for interes Cash payments for taxes Total cash payments Net cath provided by used in operating activities Cash Flows from Investing Activities Purchases of funds Cash Flows from Financing Activities Proceeds from of dett Dividends paid Net cash provided by used in financing activities Net increase (decrease in cash Cash December 31, 2020 Cash December 31, 20x1 (1.118 82 (190) 160 121 140 S 32 (1) O O Cash payments for taxes O Dividends paid Increase in inventory O Protetom of red we Cash collections from customers Cash payments to employees increase in accounts payable Increase in salaries and wages payable Purchase of esses O Cash payments for interest O Cash payments to supplers Increase in accounts receivable Payment of dividends Cath payments for other expenses Dupreciation Increase in income taxes payable o Proceeds from inse of long-term del (2) O Cash payments formes Dividends paid Increase in inventory O Proceeds from of these Cathcotections from customers O Cash payments to employees increase in accounts payani Increase in salaries and wages payable Purchased Cash payments for interest O Cash payments to suppliers Increase in accounts receivable Payment of dividends Cash payments for other expenses Depreciation Increase in income taxes payable Proceeds from of long-term debit