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someome already answered Presented below is the 2021 Income statement and comparative balance sheet information for Tiger Enterprises TIGER ENTERPRISES Income Statement For the Year
someome already answered
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 $ 9,500 Operating expenses Cont of goods sold $3,900 Depreciation expense 290 Insurance expense 350 General and administrative expense 2.300 Total operating expense 6,840 Income before income taxes 2,660 Tneome tax expense (1.066) Net Income $ 1,596 Balance sheet Information in thousanda) Dec. 31.2021 Dec. 31, 2020 Annetsi Canh $ 400 $ 250 Accounts receivable 775 880 Inventory 715 650 Prepaid insurance 100 45 Equipment 2.600 2,050 Leon Accumulated depreciation (940) (550) Total annet $3,650 $ 3, 225 1. abilities and shareholders' Equity Accounts payable $ 325 . 410 Rocrued abilition (for general administrative expense) 325 450 Income taxes payable 225 200 Notos payable (de 12/31/2022) 1,100 850 Common stock 1.000 Retained earnings 675 465 Total liabilities and shareholders' equity 53,650 33,225 850 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 thouands. Amounts to be deducted should be indicated with a minus sign.) 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: 0 Net cash flows from operating activities Cash flows from investing activities: 0 Net cash flows from investing activities Cash flows from financing activities: 0 0 Net cash flows from financing activities Net increase in cash Cash, January 1 Cash, December 31 + $ 0 Step by Step Solution
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