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Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue $13,000 Operating expenses: Cost of goods sold Depreciation expense $ 4,600 360 Insurance expense General and administrative expense Total operating expenses 700 3,000 8,660 4,340 |(1,736) $ 2,604 Income before income taxes Income tax expense Net income Balance Sheet Information ($ in thousands) Dec. 31,2021 Dec. 31, 2020 Assets: Cash 540 320 Accounts receivable Inventory Prepaid insurance Equipment Less: Accumulated depreciation 810 950 750 720 170 80 3,300 (1,080) $ 4,490 2,400 (720) $ 3,750 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 360 480 360 520 290 270 1,300 1,020 1,160 950 920 Retained earnings 610 $ 3,750 $ 4,490 Total liabilities and shareholders' equity 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 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

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