Cash flows from operating activities for both the indirect and direct methods are presented for Reverse Logic. All amounts are in thousands (000s).

Cash Flows from Operating Activities (Indirect method)
Net income	$	156
Adjustments for noncash effects:
Depreciation expense		44
Changes in current assets and current liabilities:
Increase in accounts receivable		(20)
Decrease in inventory		32
Increase in prepaid rent		(3)
Decrease in accounts payable		(13)
Decrease in income tax payable		(9)
Net cash flows from operating activities			$187
Cash Flows from Operating Activities (Direct method)
Cash received from customers	$	3,980
Cash paid to suppliers		(2,569)
Cash paid for operating expenses		(1,143)
Cash paid for income taxes		(81)
Net cash flows from operating activities			$187

Required:

Complete the following income statement for Reverse Logic. Assume all accounts payable are to suppliers. (Enter your answers in thousands.)