Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. $8,000 260 6,060 1,940 (776) $1,164 Dec. 31, 2020 TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue Operating expenses: Cost of goods sold $3,600 Depreciation expense Insurance expense 200 General and administrative expense 2,000 Total operating expenses Income before income taxes Income tax expense Net income Balance Sheet Information ($ in thousands) Dec. 31, 2021 Assets: Cash $ 340 Accounts receivable 760 Inventory 670 Prepaid insurance 70 Equipment 2,300 Less: Accumulated depreciation (880) Total assets $3,260 Liabilities and Shareholders' Equity: Accounts payable $ 310 Accrued liabilities (for general & administrative expense) 310 Income taxes payable 210 Notes payable (due 12/31/2022) 920 Common stock 940 Retained earnings 570 Total liabilities and shareholders' equity $3,260 $ 220 850 620 30 1,900 (620) $3,000 $ 380 420 170 700 820 510 $3,000 Prepare Tiger's statement of cash flows, using the indirect method to present cash flows from operating activities. (Hint: You will have to calculate dividend payments). (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.) TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 ($ 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