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 $ 7,300 Operating expenses: Cost of goods sold $ 3,410 Depreciation 290 Insurance 150 Administrative and other 1,850 Total operating expenses 5,700 Income before income taxes 1,600 Income tax expense 650 Net income $ 950 Balance Sheet Information ($ in thousands) Dec. 31,2018 Dec. 31, 2017 Assets: Cash $ 350 $ 250 Accounts receivable 800 880 Inventory 690 650 Prepaid insurance 75 45 Plant and equipment 2,350 2,050 Less: Accumulated depreciation (940 ) (650 ) Total assets $ 3,325 $ 3,225 Liabilities and Shareholders' Equity: Accounts payable $ 350 $ 410 Payables for administrative and other expenses 350 450 Income taxes payable 250 200 Note payable (due 12/31/2019) 850 650 Common stock 950 850 Retained earnings 575 665 Total liabilities and shareholders' equity $ 3,325 $ 3,225 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.)