Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. $11,500 7,880 3,620 (1,448) $ 2,172 Dec. 31, 2020 TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue Operating expenses: Cost of goods sold $ 4,300 Depreciation expense 330 Insurance expense 550 General and administrative expense 2,700 Total operating expenses Income before income taxes Income tax expense Net income Balance Sheet Information ($ in thousands) Dec. 31, 2021 Assets: Cash $ 480 Accounts receivable 795 Inventory Prepaid insurance Equipment 3,000 Less: Accumulated depreciation (1,020) Total assets $ 4,170 Liabilities and shareholders' Equity: Accounts payable $ 345 Accrued liabilities (for general & administrative expense) Income taxes payable Notes payable (due 12/31/2022) 1,120 Common stock 1,080 Retained earnings 1,020 Total liabilities and shareholders' equity $ 4,170 775 140 $ 290 920 690 65 2,250 (690) $ 3,525 $ 450 345 490 260 240 800 890 655 $ 3,525 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.) TIGER ENTERPRISES 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 Cash, December 31