Rawling Company€™s 2011 income statement and selected balance sheet data at December 31, 2010 and 2011, follow ($ thousands).

Required
Prepare the cash flows from operating activities section only of the company€™s 2011 statement of cash flows using the indirect method.

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RAWLING COMPANY Income Statement For Year Ended December 31, 2011 RAWLING COMPANY Selected Balance Sheet Accounts Sales revenue.. Expenses ...$48,600 21,000 6,000 9,000 4,500 1,900 1,800 1,400 $ 3,000 Cost of goods sold Depreciation expense At Decmber 3 2011 2010 $280 99 ts receivable. Inventory--- Accounts payable . Salaries payable . . 77 220 230 35 Salaries expense. Rent expense.. nsurance aXpense 44 Interest expense Utilities expense+ 13 4 Prepaid insurance Prepaid rent... Net income