Exercise 4-21 (Algo) Statement of cash flows; direct method [LO4-8) Presented below is the 2021 Income statement and comparative balance sheet information for Tiger Enterprises TIGER ENTERPRISES Incone Satenent To the Year Ended December 31, 2021 ( in thousands) Sales Eevenue Operating expenses: Core of goods old Depreciation expense Insurance capense General and administrative expense Total operating expenses Income before income taxes Income tax expense 6 100 1,800 N $1,050 income Balance sheet Internation in thousands) Dec. 31, 2021 Dec 1, 2020 $ 250 450 900 790 980 750 2.850 (1140) 2.550 (750) $ 3.995 $2.975 Cash Account Eceivable Inventory Prepaid insurance Equipment Less: Accumulated depreciation Total assets Liabilities and shareholders' Equity Accounts payable Accrued liabilities to general administrative exp Income tax payable Notes payable (due 12/01/2022) Conon stock Retained earnings Total liabilities and shareholders' equity 450 $ 10 450 550 300 350 750 950 1,050 725 $ 3.925 950 915 $3,975 Required: Prepare the cash flows from operating activities section of Tiger's 2021 statement of cash flows using the drect method. Assume that all Required: Prepare the cash flows from operating activities section of Tiger's 2021 statement of cash flows using the direct method Assume that all purchases and sales of Inventory are on account, and that there are no anticipated bad debts for accounts receivable. IAmounts to be deducted should be indkated with a minus sign. Enter your answers in thousands TIGER ENTERPRISES Statement of Cash Flow For the Year Ended December 31, 2021 (in thousands) Cash flows from operating activities: Net cash flows from operating activities