Presented below is the 2018 income statement and comparative balance sheet information for Tiger Enterprises TIGER ENTERPRI SES Income Statement For the Year Ended December 31, 2018 ($in thousands) Sales revenue $7,120 Operating expenses: Cost of goods sold Depreciation $3,380 260 120 Insurance Administrative and other 1,820 Total operating expenses 5,580 Income before income taxes 1,540 Income tax expense 620 Net income 920 Dec. 31 Balance Sheet Information ($ in thousands) Dec. 31,2018 2017 Assets Cash S S 320 220 Accounts receivable 770 850 Inventory Prepaid insurance Plant and equipment 660 620 60 30 2,200 1,900 Less: Accumulated depreciation (880) (620) $3,130 $3,000 Total assets Liabilities and Shareholders' Equity: Accounts payable Payables for administrative and other expenses Income taxes payable Note payable (due 12/31/2019) S 320 380 320 420 220 170 820 620 920 820 Common stock Retained earnings 590 530 $3,130 $3,000 Total liabilities and shareholders' equity Required: Prepare the cash flows from operating activities section of Tiger's 2018 statement of cash flows using the direct method. Assume that all purchases and sales of inventory are on account, and that there are no anticipated bad debts for accounts receivable. (Hint: Use T- accounts for the pertinent items to isolate the information needed for the statement.) (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) TIGER ENTERPRIS ES Statement of Cash Flows For the Year Ended December 31, 2018 ($ in thousands) Cash flows from operating activities Net cash flows from operating activities C