11. Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. 769 points $7,420 Book Hint TIGER MOTERPRISES Income Statement Tor the Year Ended December 31, 2021 is in thousands Sales revenue Operating expenses Cost of goods sold $3,430 Depreciation expense 310 Tsurance expense 170 General and administrative expense 1010 Total operating expenses Income before income taxes Income tax expense Net Income Balance Sheet Tnformations in thousand Dec. 31,2021 Assets: Cash $ 370 Accounts receivable 820 Inventory 710 Prepaid insurance 85 Tiquipment 2,450 Less Accumulated depreciation Total se $3,455 Liabilities and Shareholders' Equity Accounts payable $ 370 Meered abilities for general Administrative expense) 370 Thcome taxes payable 270 Notes payable (due 12/31/2022) 870 Common stock 970 Retained wings 505 Total liabilities and shareholders uity 43,455 5,780 1,640 (670) $ 970 Dec. 31, 2020 $ 270 900 670 SS 2.150 $3,375 $ 430 220 670 870 715 $3,375 Required: Prepare the cash flows from operating activities section of Tiger's 2021 statement of cash flows using the direct method. Assume that all purchases and sales of inventory are on account, and that there are no anticipated bad debts for accounts receivable (Amounts to Book Required: Prepare the cash flows from operating activities section of Tiger's 2021 statement of cash flows using the direct method. Assume that all purchases and sales of inventory are on account and that there are no anticipated bad debts for accounts receivable. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) Hint References TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 (5 in thousands) Cash flows from operating activities Net cash flows from operating activities