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Required information [The following information applies to the questions displayed below.] Portions of the financial statements for Pamell Company are provided below. PARNELL COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues and gains: Sales $ 720 Gain on sale of building _11 $ 731 Expenses and loss: Cost of goods sold $ 260 Salaries 112 Insurance 32 Depreciation 115 Interest expense 42 Loss on sale of equipment 10 571 Income before tax 160 Income tax expense 88 Net income PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) Year 2e21 2e2e Cash $ 126 $ 108 Accounts receivable 316 Inventory 329 417 Prepaid insurance 69 80 Accounts payable 202 125 Salaries payable 118 101 Deferred tax liability 76 60 Bond discount 180 288 224 Change $ 18 92 (88) (11) 77 17 16 (28) Required: 2 Prepare the cash flows from operating activities section of the statement of cash flows for Parnell Company using the Indirect method. (Enter your answers in thousands (1.e., 10.000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.) Cash Flows from Operating Activities: Adjustments for noncash effects. Changes in operating assets and liabilities Net cash flows from operating activities

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