Question: How do you do both the indirect and direct method on this L04-8 Presented below is the 2021 income statement and comparative balance sheet information

How do you do both the indirect and direct method on thisHow do you do both the indirect and direct method on this

L04-8 Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. Open font size menu TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 $ 7.000 210 ($ in thousands) Sales revenue Operating expenses: Cost of goods sold Depreciation expense Insurance expense General and administrative expense Total operating expenses Income bcforc income taxes Income lax expense Net income 100 1,800 5500 1.500 (600) 900 $ Balance Sheet Information ($ in thousands) Dec 31, 2021 Dec. 31, 2020 300 $ 750 200 830 600 640 Assets: Cash Accounts receivable Inventory Prepaid insurance Equipment Less: Accumulated depreciation Tolal ussels 2.100 (810) $2.000 1,800 (600) $2,850 Liabilities and Shareholders' Lquity: 300 200 Accounts payable Accruedi liubilities for general & adinin, expense) Income taxes payable Notes payable (due 12/31/2022) Common stock Retained carnings Tolal liabilities and starelokiers'equily 800 $ 300 100 150 600 800 510 $ 2,850 JUU 500 $3,000 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)

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