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Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. $12,000 $ 4,400 340 600 2,800 8,140 3,860 (1,544) $
Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. $12,000 $ 4,400 340 600 2,800 8,140 3,860 (1,544) $ 2,316 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 12/31/2022) Common stock Retained earnings Total liabilities and shareholders' equity 500 800 790 150 3,100 (1,040) $ 4,300 $ 300 930 700 70 2,300 (700) $ 3,600 $ 350 350 265 1,180 1,100 1,055 $ 4,300 460 500 250 850 900 640 $ 3,600 Required: Prepare Tiger's 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.) TULIITILINI IVOLO Statement of Cash Flows For the Year Ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Cash, January 1
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