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Rapture Company's 2011 income statement and selected balance sheet data at December 31, 2010 and 2011, follow ($ thousands).
RAPTURE COMPANY
Selected Balance Sheet Accounts
At December 31
2011
2010
Accounts receivable
$380
$390
Inventory
99
77
Accounts payable
120
130
Salaries payable
44
35
Utilities payable
11
8
Prepaid insurance
13
14
Prepaid rent
9
For Year Ended December 31,2011
Sales revenue
$58,600
Expenses
Cost of goods sold
21,000
Depreciation expense
6,000
Salaries expense
11,000
Rent expense
2,500
Insurance expense
1,900
Interest expense
1,800
Utilities expense
1,400
Net income
$13,000
Refer to the information in Problem 16-7A.
Required
Prepare the cash flows from operating activities section only of the company's 2011 statement of cash flows using the direct method.
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