accounting-

Required: Prepare Tigers 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.)

($ in thousands) Sales revenue $7,000 Operating expenses: Cost of goods sold Depreciation expense $3,360 240 Insurance expense 100 General and administrative expense 1,800 Total operating expenses 5,500 Income before income taxes 1,500 (600) Income tax expense $ 900 Net income Balance Sheet Information ($ in thousands) Dec. 31,2021 Dec. 31, 2020 Assets: $ 200 Cash 300 Accounts receivable 750 830 640 Inventory 600 Prepaid insurance Equipment Less Accumulated depreciation 50 20 2,100 1,800 (840) (600) $3,000 $2,850 Total assets Liabilities and Shareholders' Equity: Accounts payable Accrued liabilities (for general & administrative expense) Income taxes payable Notes payable (due 12/31/2022) $ 360 300 300 400 200 150 800 600 Common stock 900 800 Retained earnings 500 540 Total liabilities and shareholders' equity $3,000 $2,850 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.) 900 Net income Adjustments for noncash effects: 240 Depreciation expense Changes in operating assets and liabilities Decrease in accounts receivable 80 Increase in inventory Increase in prepaid insurance Decrease in accounts payable Decrease in accrued liabilities Increase in income taxes payable 50 1,270 Net cash flows from operating activities $ Cash flows from investing activities: Purchase of equipment Net cash flows from investing activities 0 Cash flows from financing activities: Issuance of notes payable Issuance of common stock Dividends paid to shareholders Net cash flows from financing activities 0 Net increase in cash 1,270 Cash, January 1 Cash. December3. ..1.270