Omega Company€™s accountants have just completed the income statement and balance sheet for the year and have provided the following information (dollars in thousands):
Other Data:

The company issued $30,000, 8 percent honds payable at par during the year.

Required:1. Prepare the cash flows from operating activities section of the statement of cash flows using the direct method.
2. Prepare the cash flows from operating activities section of the statement of cash flows using the indirectmethod.

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INCOME STATEMENT Sales revenue Expenses Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Utilities expense Interest expense on bonds Loss on sale of investments Net loss 22,600 $10,500 2,000 4,070 3,200 1,100 850 450 650 22.820 (220) SELECTED BALANCE SHEET ACCOUNTS 2016 $150 440 285 38 4 2015 Merchandise inventory Accounts receivable Accounts payable Salaries payable Rent payable Prepaid rent Prepaid insurance 65 620 212 23 10 4 17