Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises.

Required:Prepare Tiger?s statement of cash flows, using the indirect method to present cash flows from operating activities.

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TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 ($ in thousands) $7,000 Sales revenue Operating expenses: Cost of goods sold Depreciation expense $3,360 240 Insurance expense 100 General and administrative expense Total operating expenses 1,800 5,500 Income before income taxes 1,500 Income tax expense (600) $ 900 Net income Balance Sheet Information ($ in thousands) Dec. 31, 2021 Dec. 31, 2020 Assets: $ 300 $ 200 Cash 830 Accounts receivable 750 Inventory 640 600 Prepaid insurance Equipment Less: Accumulated depreciation 50 20 2,100 1,800 (840) (600) $3,000 $2,850 Total assets Liabilities and Shareholders' Equity: Accounts payable Accrued liabilities (for general & admin. expense) Income taxes payable Notes payable (due 12/31/2022) $ 300 $ 360 300 400 200 150 800 600 900 Common stock 800 Retained earnings 500 540 Total liabilities and shareholders' equity $3,000 $2,850