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Presented below is the 2021 income statement and comparative balance sheet Information for Tiger Enterprises. $7,500 TIGER ENTERPRISES Income Statement Por the Year Ended December 31, 2021 (s in thousands) Sales revenue Operating expenses Cost of goods sold $3,500 Depreciation expense 250 Insurance expense 150 General and administrative expense 1,900 Total operating expenses Income before income taxes Income tax expense Net Income Balance Sheet Information is in thousanda) Dec. 31, 2021 Assets Cash $ 320 Accounts receivable 755 Inventory 655 Prepaid in orance 60 Equipment 2,200 Less Accumulated depreciation (860) Total assets $3,130 Liabilities and shareholders' Equity Accounts payable JOS Accrued liabilities for general Administrative expense) 305 Income taxes payable 205 Notes payable (due 12/31/2022) 860 Common stock 920 Retained earnings 535 Total liabilities and shareholders' equity $3,130 5,800 1.700 (680) $1,020 Dec. 31, 2020 $ 210 840 610 25 1.850 (610) $2,925 S 370 410 160 650 10 525 52.925 Required: Prepare Tiger's statement of cash flows, using the Indirect method to present cash flows from operating activities. (Hint You will have to calculate dividend payments). (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sian.) MacBook 1,020 250 For the Year Ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Net income Adjustments for noncash effects: Depreciation expense Changes in operating assets and liabilities: Decrease in accounts receivable Increase in inventory Increase in prepaid insurance Decrease in accounts payable Decrease in accrued liabilities Increase in income taxes payable Net cash flows from operating activities Cash flows from investing activities: $ 1,270 ces 0 Net cash flows from investing activities Cash flows from financing activities: Issuance of common stock Issuance of notes payable Dividends paid to shareholders 0 Net cash flows from financing activities Net increase in cash Cash, January 1 Cash, December 31 1,270 1,270

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