Selected data derived from the income statement and balance sheet of National Beverage

Co. for a recent year are as follows:

Income statement data (in thousands):

Net earnings (loss) ................................................ $43,993

Losses on inventory write-down and fixed assets ...................... 7

Depreciation expense ............................................... 10,174

Stock-based compensation expense (noncash) .......................290

Balance sheet data (in thousands):

Increase in accounts receivable .................................... 5,679

Increase in inventory ................................................ 7,509

Decrease in prepaid expenses ..................................... 2,239

Decrease in accounts payable and other current liabilities ........ 1,341

a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method for National Beverage Co.

b. Interpret your results in part (a).