Determine cash inflows/ (outflows) from operating activities using the direct method

1.Cash paid to employees

2.Cash paid for interest

3.Cash paid for income tax

Problem 5 (10 points) Portions of the financial statements for Exact Company are provided below. $ 750 11 $761 Expenses Exact Company Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues and gains: Sales Gain on sale of building and loss: Cost of goods sold Salaries Insurance Depreciation Interest expense Loss on sale of equipment Income before tax Income tax expense Net income $275 115 35 118 45 13 601 160 80 $80 Exact Company Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 (S in thousands) Year 2021 2020 Cash $ 129 $ 105 Accounts receivable 319 221 Inventory 326 420 Prepaid insurance 83 Accounts payable 205 122 Salaries payable 112 98 Interest payable 2 4 Deferred tax liability 70 57 Income tax payable 6 9 Bond discount 180 205