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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 $ 15,000
Operating expenses:
Cost of goods sold $ 5,000
Depreciation 400
Insurance 900
Administrative and other 3,400
Total operating expenses 9,700
Income before income taxes 5,300
Income tax expense 2,120
Net income $ 3,180
Balance Sheet Information ($ in thousands) Dec. 31,2018 Dec. 31, 2017
Assets:
Cash $ 620 $ 360
Accounts receivable 830 990
Inventory 810 760
Prepaid insurance 130 35
Plant and equipment 3,200 2,600
Less: Accumulated depreciation (1,160 ) (760 )
Total assets $ 4,430 $ 3,985
Liabilities and Shareholders' Equity:
Accounts payable $ 380 $ 520
Payables for administrative and other expenses 380 560
Income taxes payable 360 310
Note payable (due 12/31/2019) 1,380 950
Common stock 1,100 960
Retained earnings 830 685
Total liabilities and shareholders' equity $ 4,430 $ 3,985

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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