Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. $10,000 7,100 2,900 (1,160) $ 1,740 Dec. 31, 2020 TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue Operating expenses: Cost of goods sold $4,000 Depreciation expense 300 Insurance expense 400 General and administrative expense 2,400 Total operating expenses Income before income taxes Income tax expense Net income Balance Sheet Information ($ in thousands) Dec. 31, 2021 Assets: Cash 420 Accounts receivable 780 Inventory 730 Prepaid insurance 110 Equipment 2,700 Less: Accumulated depreciation (960) Total assets $3,780 Liabilities and Shareholders' Equity: Accounts payable $ 330 Accrued liabilities (for general & administrative expense) 330 Income taxes payable 230 Notes payable (due 12/31/2022) 1,160 Common stock 1,020 Retained earnings 710 Total liabilities and shareholders' equity $3,780 $ 260 890 660 50 2,100 (660) $ 3,300 $ 420 460 210 900 860 450 $ 3,300 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