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Presented below is the $2024$ income statement and comparative balance sheet information for Tiger Enterprises.

TIGER ENTERPRISES

Income Statement

For the Year Ended December $31,2024$

$($$ in thousands$)$

Sales revenue $ $14,000$

Operating expenses:

Cost of goods sold $ $4,800$

Depreciation expense $380$

Insurance expense $800$

General and administrative expense $3,200$

Total operating expenses $9,180$

Income before income taxes $4,820$

Income tax expense $(1,928)$

Net income $ $2,892$

Balance Sheet Information $($$ in thousands$)$ December $31,2024$ December $31,2023$

Assets:

Cash $ $580$ $ $340$

Accounts receivable $820970$

Inventory $780740$

Prepaid insurance $11025$

Equipment $3,0002,500$

Less: Accumulated depreciation $(1,120)(740)$

Total assets $ $4,170$ $ $3,835$

Liabilities and Shareholders' Equity:

Accounts payable $ $370$ $ $500$

Accrued liabilities $($for general & administrative expense$)370540$

Income taxes payable $350290$

Notes payable $($due $12/31/2025)1,260850$

Common stock $1,060940$

Retained earnings $760715$

Total liabilities and shareholders' equity $ $4,170$ $ $3,835$

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$).$

Note: Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.

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