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Presented below is the 2018 income statement and comparative balance sheet information for Tiger Enterprises. TIGER ENTERPRISES Income Statement For the Year Ended December 31,

Presented below is the 2018 income statement and comparative balance sheet information for Tiger Enterprises.

TIGER ENTERPRISES
Income Statement
For the Year Ended December 31, 2018
($ in thousands)
Sales revenue $ 13,000
Operating expenses:
Cost of goods sold $ 4,600
Depreciation 360
Insurance 700
Administrative and other 3,000
Total operating expenses 8,660
Income before income taxes 4,340
Income tax expense 1,736
Net income $ 2,604
Balance Sheet Information ($ in thousands) Dec. 31,2018 Dec. 31, 2017
Assets:
Cash $ 540 $ 320
Accounts receivable 810 950
Inventory 750 720
Prepaid insurance 170 80
Plant and equipment 3,300 2,400
Less: Accumulated depreciation (1,080 ) (720 )
Total assets $ 4,490 $ 3,750
Liabilities and Shareholders' Equity:
Accounts payable $ 360 $ 480
Payables for administrative and other expenses 360 520
Income taxes payable 290 270
Note payable (due 12/31/2019) 1,300 950
Common stock 1,020 920
Retained earnings 1,160 610
Total liabilities and shareholders' equity $ 4,490 $ 3,750

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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