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 (5 in thousands) Sales revenue $7,060 Operating expenses Cost of goods sold $3,370 Depreciation expense 250 Insurance expense 110 General and administrative expense 1,810 Total operating expenses Income before income taxes 1,52e Income tax expense (610) Net Income $ 912 Balance Sheet Information (sin thousands) Dec 31, 2021 Dec 31, 2020 Assets Cash $ 310 $ 210 Accounts receivable 76e 8.40 Inventory 65e 610 Prepaid insurance 55 25 Equipment 2,150 1,85e Less: Accumulated depreciation (860) (610) Total assets $3,065 $2,925 5,540 $ 910 Dec 31, 2020 Dec 31,2021 Net Income Balance Sheet Information in thousands) Assets cath Accounts receivable Inventory Prepaid insurance Equipent Less Accumulated depreciation Total assets Liabilities and Shareholders' Equity Accounts payable Accrued limbalities for general administrative expense) Income taxes payable Notes payable (due 12/31/2022) Coon stock Retained earnings Total abilities and shareholders' equity 310 750 650 55 2,150 (860) $ 3,065 $ 210 BA 610 25 1,850 (619) $ 2,925 310 $ 5 310 210 810 910 515 $ 3,065 37e 410 160 610 810 $2,925 Required: Prepare the cash flows from operating activities section of Tiger's 2021 statement of cash flows using the direct method. Assume that all purchases and sales of inventory are on account, and that there are no anticipated bad debts for accounts receivable (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) Required: Prepare the cash flows from operating activities section of Tiger's 2021 statement of cash flows using the direct method. Assume that all purchases and sales of inventory are on account, and that there are no anticipated bad debts for accounts receivable. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 (s in thousands) Cash flows from operating activities Net cash flows from operating activities 5 0