Response to the following problem:
Tyra Company's 2011 income statement and selected balance sheet data at December 31, 2010 and 2011, follow ($ thousands).
TYRA COMPANY
Income Statement
For Year Ended December 31, 2011
Sales revenue . . . . . . . . . . . . . . . . . . $412,000
Expenses
Cost of goods sold . . . . . . . . . . . 244,000
Depreciation expense . . . . . . . . . 64,000
Salaries expense . . . . . . . . . . . . . 30,000
Rent expense . . . . . . . . . . . . . . . 20,000
Insurance expense . . . . . . . . . . . 5,200
Interest expense . . . . . . . . . . . . . 4,800
Utilities expense . . . . . . . . . . . . . 4,000
Net income . . . . . . . . . . . . . . . . . . . $ 40,000
TYRA COMPANY
Selected Balance Sheet Accounts
At December 31 2011 2010
Accounts receivable . . . . . . . . $820 $700
Inventory . . . . . . . . . . . . . . . . . 272 296
Accounts payable . . . . . . . . . . 480 520
Salaries payable . . . . . . . . . . . . 280 220
Utilities payable . . . . . . . . . . . . 40 0
Prepaid insurance . . . . . . . . . . 28 36
Prepaid rent . . . . . . . . . . . . . . 40 60
Required :
Prepare the cash flows from operating activities section only of the company's 2011 statement of cash flows using the indirect method.