4 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 15 points sappe Sales revenue Operating expenses Cost of goods sold Depreciation expense Insurance expense General and administrative expense Total sperating expenses Book Income before income taxes Po References Income tax expense Bet income Belance Sheet Information (in thousands) (5 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 & deinistrative expense) Income taxes payable Nutas payable (due 12/31/2022) Common stock Retained earnings $4,600 360 $13,000 700 3,000 ,660 4,340 (1,736) $ 2,604 Dec. 31, 2020 Dec. 31,2021 $ 540 $ 320 310 950 750 720 170 3,300 2,400 (1,080) (720) $4,490 $3,750 360 $ 450 360 520 290 270 1,300 950 1,020 920 1,160 $4,490 $3,750 Required: Prepare Tiger's statement of cash flows, using the indirect method to present cash flows from operating activities. (Hint: You will have to calculate dividend payments). (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.) TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 ($ 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 TIGER ENTERPRISES Income Statement For the Year Ended December 11, 2021 ($ in thousands) 3 ped 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 Balance Sheet Information (S in thousands) HIS Print Assets: erences Cash Accounts receivable Inventory Prepaid insurance Equipment Less: Accumulated depreciation Total assets 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 $ 4,600 360 700 3,000 Dec. 31,2021 $ 540 810. $13,000 8,660 4,340 (1,736) $2,604 Dec. 31, 2020 320 950 750 720 170 80 3,300 2,400 (1,080) $ 4,490 (720) $3,750 $ 360 $ 480 360 520 290 270 1,300 1,020 1,160 950 920 610 $ 4,490 $3,750 ipped Required: Prepare Tiger's statement of cash flows, using the indirect method to present cash flows from operating activities. (Hint: You will have to calculate dividend payments). (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.) Book H Pont erences TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities Adjustments for noncash effects Changes in operating assets and liabilities ($ in thousands) Net cash flows from operating activities $ pped Net cash flows from operating activities Cash flows from investing activities Book Hint Pint erences 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 311 $ 0 0 0 $ 0 0