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The income statement and the cash flows from 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 $31,2024$

$($$ in thousands$)$

Sales $ $283\mathrm{.}4$

Cost of goods sold $(161\mathrm{.}4)$

Gross margin $122\mathrm{.}0$

Salaries expense $ $32\mathrm{.}6$

Insurance expense $19\mathrm{.}3$

Depreciation expense $13\mathrm{.}5$

Depletion expense $5\mathrm{.}8$

Interest expense $12\mathrm{.}9(84\mathrm{.}1)$

Gains and losses:

Gain on sale of equipment $20\mathrm{.}5$

Loss on sale of land $(7\mathrm{.}6)$

Income before tax $50\mathrm{.}8$

Income tax expense $(25\mathrm{.}4)$

Net income $ $25\mathrm{.}4$

Cash Flows from Operating Activities:

Cash received from customers $ $232\mathrm{.}0$

Cash paid to suppliers $(148\mathrm{.}0)$

Cash paid to employees $(27\mathrm{.}0)$

Cash paid for interest $(10\mathrm{.}7)$

Cash paid for insurance $(14\mathrm{.}6)$

Cash paid for income tax $(13\mathrm{.}0)$

Net cash flows from operating activities $ $18\mathrm{.}7$

Required:

Prepare a schedule to reconcile net income to net cash flows from operating activities.

Note: Enter your answers in thousands rounded to $1$ decimal place $($i$.$e$.,5,500$ should be entered as $5\mathrm{.}5).$ Cash outflows should be indicated with a minus sign.

RECONCILIATION OF NET INCOME TO

NET CASH FLOWS FROM OPERATING ACTIVITIES

Cash flows from operating activities: Net income

Net loss

Adjustments for noncash effects: Decrease in accounts payable

Decrease in accounts receivable

Decrease in income tax payable

Decrease in interest payable

Decrease in prepaid insurance

Decrease in salaries payable

Depletion expense

Depreciation expense

Gain on sale of equipment

Gain on sale of land

Increase in accounts payable

Increase in accounts receivable

Increase in bond discount

Increase in income tax payable

Increase in interest payable

Increase in prepaid insurance

Increase in salaries payable

Loss on sale of equipment

Loss on sale of land

Changes in operating assets and liabilities: Decrease in accounts payable

Decrease in accounts receivable

Decrease in income tax payable

Decrease in interest payable

Decrease in prepaid insurance

Decrease in salaries payable

Depletion expense

Depreciation expense

Gain on sale of equipment

Gain on sale of land

Increase in accounts payable

Increase in accounts receivable

Increase in bond discount

Increase in income tax payable

Increase in interest payable

Increase in prepaid insurance

Increase in salaries payable

Loss on sale of equipment

Loss on sale of land

Net cash flows from operating activities:

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