Question: please help will leave thumbs up Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. $8,500 6,320 2,180 (872)


Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. $8,500 6,320 2,180 (872) $1,308 Dec 31, 2020 TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue Operating expenses Cost of goods sold $ 3,700 Depreciation expense 270 Insurance expense 250 General and administrative expense 2,100 Total operating expenses Income before income taxes Income tax expense Net incomo Balance Sheet Informations in thousands) Dec. 31, 2021 Assets: Cash $ 360 Accounts receivable 765 Inventory 685 Prepaid insurance 80 Equipment 2,400 Least Accumulated depreciation (900) Total assets $3,390 Liabilities and Shareholders' Equity Accounts payable 315 Accrued 11 abilities for general & administrative expense) 315 Income taxes payable 215 Notes payable (due 12/31/2022) 980 Common stock 960 Retained earnings 605 Total liabilities and shareholders' equity $3,390 $ 230 860 630 35 1,950 (630) $3,075 $ 390 430 180 750 830 495 $3.075 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.) 1,308 TIGER ENTERPRISES Statement of Cash Flow For the Year Ended December 31, 2021 is in thousands) Cash flows from operating activities: Net income $ Adjustments for noncash effects: Depreciation expense Changes in operating assets and liabilities: Decrease in accounts receivable Increase in inventory Increase in prepaid insurance Decrease in accounts payable Decrease in accrued liabilities Increase in income taxes payable 270 95 $ 1,673 Net cash flows from operating activities Cash flows from investing activities: Purchase of equipment 0 Net cash flows from investing activities Cash flows from financing activities: Uncovear GOLD GHOULDO. Decrease in accounts receivable 95 Increase in inventory Increase in prepaid insurance Decrease in accounts payable Decrease in accrued liabilities Increase in income taxes payable $ 1,673 Net cash flows from operating activities Cash flows from investing activities: Purchase of equipment 0 Net cash flows from investing activities Cash flows from financing activities: Issuance of notes payable Issuance of common stock Dividends paid to shareholders 0 1,673 Net cash flows from financing activities Net increase in cash Cash, January 1 Cash, December 31 $ 1,673
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