$15,000 TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue Operating expenses: Cost of goods sold $ 5,000 Depreciation expense 400 Insurance expense 900 General and administrative expense 3,400 Total operating expenses Income before income taxes Income tax expense Net income Balance Sheet Information ($ in thousands) Dec. 31, 2021 Assets: Cash $ 620 Accounts receivable 830 Inventory 810 Prepaid insurance 130 Equipment 3,200 Less: Accumulated depreciation (1,160) Total assets $ 4,430 Liabilities and Shareholders' Equity: Accounts payable $ 380 Accrued liabilities for general 6 administrative expense) 380 Income taxes payable 360 Notes payable (due 12/31/2022) 1,380 Common stock 1,100 Retained earnings 830 Total liabilities and shareholders' equity $ 4,430 9,700 5, 300 (2,120) $ 3,180 Dec. 31, 2020 $ 360 990 760 35 2,600 (760) $ 3,985 $ 520 560 310 950 960 685 $ 3,985 3,180 TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Net income $ Adjustments for noncash effects: Depreciation expense Changes in operating assets and liabilities: Decrease in accounts receivable Increase in inventory Increase in prepaid insurance Decrease in accounts payable Decrease in accrued liabilities Increase in income taxes payable 400 160 50 95 140 180 50 Net cash flows from operating activities Cash flows from investing activities: Purchase of equipment $ 4,255 (600) Net cash flows from investing activities Cash flows from financing activities: Issuance of common stock (600) 140 UMILIANVIT CAPUT Changes in operating assets and liabilities: Decrease in accounts receivable 160 50 95 140 Increase in inventory Increase in prepaid insurance Decrease in accounts payable Decrease in accrued liabilities Increase in income taxes payable 180 50 $ 4,255 Net cash flows from operating activities Cash flows from investing activities: Purchase of equipment (600) (600) Net cash flows from investing activities Cash flows from financing activities: Issuance of common stock Issuance of notes payable Dividends paid to shareholders 140 430 (3,035) Net cash flows from financing activities Net increase in cash Cash, January 1 Cash, December 31 (2,465) 1,190 360 $ 1,550