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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 $ 9,000
Operating expenses:
Cost of goods sold $ 3,800
Depreciation 280
Insurance 300
Administrative and other 2,200
Total operating expenses 6,580
Income before income taxes 2,420
Income tax expense 968
Net income $ 1,452
Balance Sheet Information ($ in thousands) Dec. 31,2018 Dec. 31, 2017
Assets:
Cash $ 380 $ 240
Accounts receivable 770 870
Inventory 700 640
Prepaid insurance 90 40
Plant and equipment 2,500 2,000
Less: Accumulated depreciation (920 ) (640 )
Total assets $ 3,520 $ 3,150
Liabilities and Shareholders' Equity:
Accounts payable $ 320 $ 400
Payables for administrative and other expenses 320 440
Income taxes payable 220 190
Note payable (due 12/31/2019) 1,040 800
Common stock 980 840
Retained earnings 640 480
Total liabilities and shareholders' equity $ 3,520 $ 3,150

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.)

TIGER ENTERPRISES
Statement of Cash Flows
For the Year Ended December 31, 2018
($ in thousands)
$0
0
0
$0

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