Exercise 4-20 (Static) Statement of cash flows; indirect method [LO4-8] Presented below is the 2024 income statement and comparative balance sheet information for Tiger Enterprises. TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2024 ($ in thousands) 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 ($ in thousands) nces Assets: 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 12/31/2025) Common stock Retained earnings Total liabilities and shareholders' equity Required: $ 7,000 $ 3,360 240 100 1,800 5,500 1,500 (600) $ 900 December 31, 2024 December 31, 2023 $ 300 $ 200 750 830 640 600 50 20 2,100 1,800 (840) (600) $ 3,000 $ 2,850 $ 300 $ 360 300 400 200- 150 800 600 900 800 500 540 $ 3,000 $ 2,850 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). Note: Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.