Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. $16,800 $ 5,200 42e 1. eae _ 3,689 19, 220 5,789 (2,312) $ 3,468 Dec. 31, 2020 Dec. 31, 2021 TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue Operating expenses: Cost of goods sold Depreciation expense Insurance expense General and administrative expense Total operating expenses Income before income taxes Income tax expense Net income Balance Sheet Information ($ in thousands) Assets: Cash Accounts receivable Inventory Prepaid insurance Equipment Less: Accumulated depreciation Total assets Liabilities and Shareholders' Equity: Accounts payable Accrued liabilities (for general & administrative expense) Income taxes payable Notes payable (due 12/31/2822) Common stock Retained earnings Total liabilities and shareholders' equity $ 660 849 $ 389 1. e1e 782 840 45 158 3,499 (1,200) $ 4,690 2,700 (780) 4,135 $ $ 549 580 339 $ 390 399 370 1. 160 1.140 1.240 $ 4,699 85e 980 4.135 TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Net income Adjustments for noncash effects: Depreciation expense Changes in operating assets and liabilities: Decrease in accounts receivable Increase in inventory Increase in prepaid insurance Decrease in accounts payable Decrease in accrued liabilities Issuance of notes payable Net cash flows from operating activities Cash flows from investing activities: Purchase of equipment Net cash flows from investing activities Cash flows from financing activities: Issuance of common stock Dividends paid to shareholders Net cash flows from financing activities Net increase in cash Cash, January 1 Cash, December 31