240 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 $7,840 Operating expenses: Cost of goods sold $ 3,500 Depreciation expense 380 Insurance expense General and administrative expense 1,940 Total operating expenses 6,060 Income before income taxes 1,780 Income tax expense (740) Net income $ 1,040 Balance Sheet Information ($ in thousands) Dec. 31, 2021 Dec. 31, 2020 Assets: Cash $ 440 $ 340 Accounts receivable 899 970 Inventory 780 740 Prepaid insurance 120 90 Equipment 2,800 2,500 Less: Accumulated depreciation (1,120) (740) Total assets $ 3,910 $3,900 Liabilities and Shareholders' Equity: Accounts payable $ 440 $ 500 Accrued liabilities (for general & administrative expense) 440 540 Income taxes payable 340 290 Notes payable (due 12/31/2022) 940 740 Common stock 1,040 940 Retained earnings 710 890 Total liabilities and shareholders' equity $ 3,910 $3,900 $ 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 in thousands) Cash flows from operating activities: Net cash flows from operating activities