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Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises 57,480 $ 3,440 320 180 1,880 TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 (5 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 (sin 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 5,820 1,660 (680) $ 980 Dec 31, 2020 Dec. 31,2021 5 380 830 720 90 2,500 (1.000) $3,520 5 280 010 680 60 2,200 (680) $3,450 5 $ 380 380 250 440 480 230 Required: Prepare the cash flows from operating activities section of Tiger's 2021 statement of cash flows using the direct method. Assume that all purchases and sales of inventory are on account, and that there are no anticipated bad debts for accounts receivable (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 (5 in thousands Cash flows from operating activities Cash received from customers Cash paid for insurance Cash paid for merchandise Cash paid for general and administrative expense Cash paid for income taxes 8.390 4 150 Nel cash flows from operating activities 5 12.550

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