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: es $ 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 Exercise 4-20 (Static) Statement of cash flows; indirect method [LO4-8) 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 (s in thousands) Sales revenue $7,000 Operating expenses: Cost of goods sold $3,360 Depreciation expense 240 Insurance expense 100 General and administrative expense 1,800 Total operating expenses 5,500 Income before income taxes 1,500 Income tax expense (600) Net income $ 900 Balance Sheet Information (s in thousands) Dec. 31,2021 Dec. 31, 2020 Assets: Cash $ 300 $ 200 Accounts receivable 750 830 Inventory 640 600 Prepaid insurance 50 20 Equipment 2,100 1,800 Less: Accumulated depreciation (840) (600) Total assets $3,000 $2,850 Liabilities and Shareholders' Equity: Accounts payable $300 5 360 Accrued liabilities for general & administrative expense) 300 400 Income taxes payable 200 150 Notes payable (due 12/31/2022) 800 600 Common stock 900 800 Retained earnings 500 540 Total liabilities and shareholders' equity $3,000 52,850 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 thousands. Amounts to be deducted should be indicated with a minus sign.)