$17,000 10,740 6,260 2,504 $ 3,756 Dec. 31, 2017 TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2018 ($ in thousands) Sales revenue Operating expenses: Cost of goods sold $ 5,400 Depreciation 440 Insurance 1,100 Administrative and other 3,800 Total operating expenses Income before income taxes Income tax expense Net income Balance Sheet Information ($ in thousands) Dec. 31, 2018 Assets: Cash $ 700 Accounts receivable 850 Inventory 870 Prepaid insurance 170 Plant and equipment 3,600 Less: Accumulated depreciation (1,240) Total assets $ 4,950 Liabilities and Shareholders' Equity: Accounts payable $ 400 400 Payables for administrative and other expenses Income taxes payable 380 Note payable (due 12/31/2019) 1,280 Common stock 1,180 Retained earnings 1,310 $ 4,950 Total liabilities and shareholders' equity $ 400 1,030 800 55 2,800 (800) $ 4,285 $ 560 600 350 950 1,000 825 $ 4,285 Required: Prepare Tiger's statement of cash flows, using the indirect method to present cash flows from operating activities. (Hint: You will to calculate dividend payments). (Enter your answers in thousands. Amounts to be deducted should be indicated with a minu sign.) TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2018 ($ in thousands)