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Presented below is the 2016 income statement and comparative balance sheet information for Tiger Enterprises. TIGER ENTERPRISES Income Statement For the Year Ended December 31,

Presented below is the 2016 income statement and comparative balance sheet information for Tiger Enterprises.

TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2016 ($ in thousands)
Sales revenue $ 17,000
Operating expenses:
Cost of goods sold $ 5,400
Depreciation 440
Insurance 1,100
Administrative and other 3,800
Total operating expenses 10,740
Income before income taxes 6,260
Income tax expense 2,504
Net income $ 3,756
Balance Sheet Information ($ in thousands) Dec. 31, 2016 Dec. 31, 2015
Assets:
Cash $ 700 $ 400
Accounts receivable 850 1,030
Inventory 870 800
Prepaid insurance 170 55
Plant and equipment 3,600 2,800
Less: Accumulated depreciation (1,240 ) (800 )
Total assets $ 4,950 $ 4,285
Liabilities and Shareholders' Equity:
Accounts payable $ 400 $ 560
Payables for administrative and other expenses 400 600
Income taxes payable 380 350
Note payable (due 12/31/2017) 1,280 950
Common stock 1,180 1,000
Retained earnings 1,310 825
Total liabilities and shareholders' equity $ 4,950 $ 4,285

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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