Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises.

TIGER ENTERPRISES
Income Statement
For the Year Ended December 31, 2021
($ in thousands)
Sales revenue								$	13,500
Operating expenses:
Cost of goods sold		$	4,700
Depreciation expense			370
Insurance expense			750
General and administrative expense			3,100
Total operating expenses									8,920
Income before income taxes									4,580
Income tax expense									(1,832	)
Net income								$	2,748
Balance Sheet Information ($ in thousands)	Dec. 31,2021						Dec. 31, 2020
Assets:
Cash		$	560					$	330
Accounts receivable			815						960
Inventory			765						730
Prepaid insurance			100						20
Equipment			3,400						2,450
Less: Accumulated depreciation			(1,100	)					(730	)
Total assets		$	4,540					$	3,760
Liabilities and Shareholders' Equity:
Accounts payable		$	365					$	490
Accrued liabilities (for general & administrative expense)			365						530
Income taxes payable			295						280
Notes payable (due 12/31/2022)			1,200						800
Common stock			1,040						930
Retained earnings			1,275						730
Total liabilities and shareholders' equity		$	4,540					$	3,760

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.)

2,748 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 Increase in income taxes payable 370 145 (35) (80) (125) (165) 15 2,873 Net cash flows from operating activities Cash flows from investing activities: 0 Net cash flows from investing activities Cash flows from financing activities: 0 2,873 Net cash flows from financing activities Net increase in cash Cash, January 1 Cash, December 31 $ 2,873