Selected data derived from the statement of income and statement of financial position of Glennis Co. for a recent year are as follows:
Income statement data (in thousands):
Net loss..................................................$(6,106)
Depreciation expense .................................. 379
Balance sheet data (in thousands):
Increase in accounts receivable........................ 178
Increase in inventories ................................. 1,252
Increase in prepaid expenses .......................... 211
Decrease in accounts payable .......................... 549
a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows using the indirect method for Glennis Co. for the year.
b. Interpret your results in part (a).