I need help finding the the cash balance for January 1.
Check my work Exercise 4-20 (Algo) Statement of cash flows; indirect method [LO4-8] Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. 1.42 points eBook $15,500 Hint Print References TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue Operating expenses: Cost of goods sold $ 5,100 Depreciation expense 410 Insurance expense 950 General and administrative expense 3,500 Total operating expenses Income before income taxes Income tax expense Net income Balance Sheet Information ($ in thousands) Dec. 31, 2021 Assets: Cash $ 640 Accounts receivable 835 Inventory 825 Prepaid insurance 140 Equipment 3,300 Less: Accumulated depreciation (1,180) Total assets $ 4,560 ....Sikilisis...and... h aldanal... Fitxt.. 9,960 5,540 (2,216) $ 3, 324 Dec. 31, 2020 $ 370 1,000 770 40 2,650 (770) $ 4,060 Check my work sy,324" Dec. 31, 2020 Dec. 31,2021 1.42 points Net income Balance Sheet Information ($ in thousands) 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 12/31/2022) Common stock Retained earnings Total liabilities and shareholders' equity $ 640 835 825 140 3,300 (1,180) $ 4,560 $ 370 1,000 770 40 2,650 (770) $ 4,060 eBook 385 Hint Print 385 365 1,100 1,120 1, 205 $ 4,560 530 570 320 800 970 870 $ 4,060 References 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.) TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 Check my work 1.42 points 3,324 eBook "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: Increase in prepaid insurance Decrease in accounts receivable Increase in inventory Decrease in accounts payable Decrease in accrued liabilities Increase in income taxes payable 410 Hint Print References (100) 165 (55) (145) (185) 45 $ 3,459 Net cash flows from operating activities Cash flows from investing activities: Purchase of equipment (650) (650) Net cash flows from investing activities Cash flows from financing activities.... Check my work (100) 165 (55) Increase in prepaid insurance Decrease in accounts receivable Increase in inventory Decrease in accounts payable Decrease in accrued liabilities Increase in income taxes payable 1.42 points (145) (185) 1 45 eBook $ 3,459 Hint Net cash flows from operating activities Cash flows from investing activities: Purchase of equipment Print (650) References (650) Net cash flows from investing activities Cash flows from financing activities: Issuance of common stock Issuance of notes payable Dividends paid to shareholders 150 300 (2,989) (2,539) 270 Net cash flows from financing activities Net increase in cash Cash, January 1 Cash, December 31 270
