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Presented below is the 2013 income statement and comparative balance sheet information for Tiger Enterprises. TIGER ENTERPRISES Income Statement For the Year Ended December 31,

Presented below is the 2013 income statement and comparative balance sheet information for Tiger Enterprises.

TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2013 ($ in thousands)
Sales revenue $ 11,000
Operating expenses:
Cost of goods sold $ 4,200
Depreciation 320
Insurance 500
Administrative and other 2,600
Total operating expenses 7,620
Income before income taxes 3,380
Income tax expense 1,352
Net income $ 2,028
Balance Sheet Information ($ in thousands) Dec. 31, 2013 Dec. 31, 2012
Assets:
Cash $ 460 $ 280
Accounts receivable 790 910
Inventory 760 680
Prepaid insurance 130 60
Plant and equipment 2,900 2,200
Less: Accumulated depreciation (1,000 ) (680 )
Total assets $ 4,040 $ 3,450
Liabilities and Shareholders' Equity:
Accounts payable $ 340 $ 440
Payables for administrative and other expenses 340 480
Income taxes payable 240 230
Note payable (due 12/31/2014) 1,060 750
Common stock 1,060 880
Retained earnings 1,000 670
Total liabilities and shareholders' equity $ 4,040 $ 3,450

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.) (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.)

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