$ 7,300 5,700 1,600 1650) $ 950 Dec 31, 2020 TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue Operating expenses: Cost of goods sold $3,410 Depreciation expense 290 Insurance expense 150 General and administrative expense 1,850 Total operating expenses Income before income taxes Income tax expense Net income Balance sheet Information is in thousands) Dec. 31,2021 Assets: Cash S 350 Accounts receivable 800 Inventory 690 Prepaid insurance 75 Equipment 2,350 LOG: Accumulated depreciation (940) Total assets $3,325 Liabilities and shareholders' Equity: Accounts payable $ 350 nocrved liabilities (for general administrative expense) 350 Income taxes payable 250 Notes payable (due 12/31/2022) 850 Common stock 950 Retained earning 575 Total abilities and shareholders' equity $3,325 $ 250 880 650 45 2,050 (650) $3,225 $ 410 450 200 650 850 665 $3/225 TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Net cash flows from operating activities 0