10 10 9.09 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) points cBook Hint 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 References $15,000 $ 5,000 400 900 3,400 9,700 5,300 (2,120) $ 3,180 Balance Sheet Information ($ in thousands) Dec. 31,2021 Dec. 31, 2020 Assets: Cash $ 620 $ 360 Accounts receivable 830 990 Inventory Prepaid insurance Equipment Leas: Accumulated depreciation Total assets 810 760 130 35 3,200 (1,160) 2,600 (760) $ 4,430 $ 3,985 Liabilities and Shareholders' Equity: Accounts payable Accrued liabilities (for general & administrative expense) Income taxes payable Notes payable (due 12/31/2022) Common stock Retained earnings Total liabilities and shareholders' equity $ 380 $ 520 560 360 310 1,380 950 1,100 960 830 685 $ 4,430 $ 3,985 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 Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: ($ in thousands) 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