Income Statement
For the Year Ended December 31, 2021
	($ in thousands)
	$	$
Sales revenue		7,000
Operating expenses:
Cost of goods sold	3,360
Depreciation	240
Insurance	100
Administrative and other	1,800
Total operating expenses		5,500
Income before income taxes		1,500
Income tax expense		(600)
Net income		900
Balance Sheet Information	Dec. 31, 2021	Dec. 31, 2020
	($ in thousands)
Assets:	$	$
Cash	300	200
Accounts receivable	750	830
Inventory	640	600
Prepaid insurance	50	20
Plant and equipment	2,100	1,800
Less: Accumulated depreciation	(840)	(600)
Total assets	3,000	2,850
Liabilities and Shareholders Equity:
Accounts payable	300	360
Payables for administrative and other expenses	300	400
Income taxes payable	200	150
Note payable (due 12/31/2022)	800	600
Common stock	900	800
Retained earnings	500	540
Total liabilities and shareholders equity	3,000	2,850
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).