Presented below is the 2021 Income statement and comparative balance sheet information for Tiger Enterprises $15,000 $ 5,000 900 2,400 9.200 5,300 (2.120) $ 3,150 Dec 31, 2020 Dec. 31,2021 TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 (5 in thousands) Sales revenue Operating expenses: Cost of soods 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 $ 620 830 810 130 3,200 (1,160 $ 4430 5 360 990 760 35 2,600 (760) $3,985 380 $ 380 360 1,380 1,100 830 $ 4,430 $ 528 560 310 950 960 655 $ 3,985 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.) 3,180 TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 (5 in thousands) Cash flows from operating activities Net income $ Adjustments for noncash effects Depreciation expenso Changes in operating assets and liabilities Decrease in accounts receivable Increase in inventory Increase in prepaid insurance Decrease in accounts payablo Decrease in accrued liabilities Increase in income taxes payable 400 $ 3.580 Net cash flows from operating activities Cash flows from investing activities Purchase of equipment 0 Net cash flows from investing activities Cash flows from financing activities