Exercise 4-20 (Algo) Statement of cash flows; indirect method [LO4-8] Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises $ 8,500 $ 3,700 270 250 2,100 TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue Operating expenses: Cost of goods sold Depreciation expense Insurance expense General and administrative expense Total operating expenses Income before income taxes Income tax expense Net income Balance Sheet Information ($ in thousands) Assets: Cash Accounts receivable Inventory Prepaid insurance Equipment Less: Accumulated depreciation Total assets Liabilities and Shareholders' Equity: Accounts payable Accrued liabilities (for general & administrative expense) Income taxes payable Notes payable (due 12/31/2022) Common stock Retained earnings Total liabilities and shareholders' equity 6,320 2,180 (872) $1,308 Dec. 31, 2020 Dec. 31, 2021 3 nces S 360 765 685 8e 2,400 (900 $ 3,390 $ 230 860 630 35 1,950 (630) $3,075 $ 315 315 215 980 960 605 $ 390 430 180 750 830 495 $ 3,075 $ 3,390 Required: Prepare Tiger's statement of cash flows, using the indirect method to present cash flows from operating activities. (Hint You will have to calculate dividend payments) (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.) TIGER ENTERPRISES sign.) TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Adjustments for noncash effects Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities Net cash flows from investing activities Cash flows from financing activities Net cash flows from financing activities Net increase in cash Cash, January 1 Cash December 31