Problem $9-25($Algo$)$ Cash flows from operations$-$indirect method LO $9-10$

The financial statements of Simon Company include the following items $($amounts in thousands$)$:

Income Statement

Net income

Depreciation and amortization expense

For the Year Ended December

$31,2023$

$$431$

$331$

Balance Sheets

Accounts receivable

Inventory

Accounts payable

Income taxes payable

At December $31$

Required:

a$.$ Calculate the net cash flow provided by operations for Simon Company for the year ended December $31,$

Note: Enter your answer in thousands. $($i$.$e$.,20,000$ should be entered as $20)$

b$.$ Net income and cash flows provided by operations may differ because of the timing of cash receipts and $p$

timing of recognition on the income statement.

a$.$ Net cash provided $($used$)$ by operating activities

b$.$ Net income and cash flows provided by operations differ