Check my work B Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. $7,500 5,800 1,788 (680) $1,020 Dec. 31, 2020 TIGER ENTERPRISES Incone Statenent For the Year Ended December 31, 2021 ($ in thousands) Sales revenue Operating expenses Cost of goods sold $3,500 Depreciation expense 250 Insurance expense 150 General and administrative expense 1,988 Total operating expenses Income before incone taxes Income tax expense Net incone Balance Sheet Information in thousands) Dec. 31,2021 Assets: Cash $ 320 Accounts receivable 755 Inventory 655 Prepaid insurance 60 Equipment 2,200 Less: Accumulated depreciation (860) Total assets $3,130 Liabilities and Shareholders' Equity Accounts payable $ 305 Accrued liabilities (for general & administrative expense) 305 Income taxes payable 205 Notes payable (due 12/31/2022) 860 Common stock 920 Retained earnings 535 Total liabilities and shareholders' equity 53, 130 $ 210 840 610 25 1,850 (618) $2,925 ces $ 370 418 160 650 810 525 $2,925 Required: Prepare Tiger's statement of cash flows, using the indirect method to present cash flows from operating activities. (Hint: You will have to calculate dividend payments). (Enter your answers in thousands. Amounts to be deducted should be indicate with a minus sign.) Check my wo 3 Required: Prepare Tiger's statement of cash flows, using the indirect method to present cash flows from operating activities. (Hint: Y will have to calculate dividend payments). (Enter your answers in thousands. Amounts to be deducted should be indicat with a minus sign.) Book Hint 1,020 TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 ($ 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 250 D ences $ 1,270 Net cash flows from operating activities Cash flows from investing activities: Purchase of equipment 0 Net cash flows from investing activities Cash flows from financing activities: Issuance of common stock Issuance of notes payable Didende nal in charoldare