$11,500 $ 4,300 330 550 2,700 7,880 3,620 (1,448) $ 2,172 Dec. 31, 2020 Dec. 31, 2021 ($ in thousands) Sales revenue Operating expenses: Cost of goods sold Depreciation expense Ingurance expense General and administrative expense Total operating expenses Income before income taxes Income tax expense Net income Balance Sheet Information (s in thousands) Assets: Cash Accounts receivable Inventory Prepaid insurance Equipment Less: Accumulated depreciation Total assets Liabilities and Shareholders' Equity: Accounts payable Accrued liabilities (for general & acministrative expense) Income taxes payable Notes payable (due 12/31/2022) Common stock Retained earnings Total liabilities and shareholders' equity $ 480 795 775 140 3,000 (1,020) $ 4,170 $ 290 920 690 65 2,250 (690) $ 3,525 $ 345 345 260 1,120 1,080 1,020 $ 4,170 $ 450 490 240 800 890 655 $ 3,525 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