Presented below is the 2018 income statement and comparative balance sheet information for Tiger Enterprises.

TIGER ENTERPRISES
Income Statement
For the Year Ended December 31, 2018
($ in thousands)
Sales revenue								$	7,180
Operating expenses:
Cost of goods sold		$	3,390
Depreciation			270
Insurance			130
Administrative and other			1,830
Total operating expenses									5,620
Income before income taxes									1,560
Income tax expense									630
Net income								$	930
Balance Sheet Information ($ in thousands)	Dec. 31,2018						Dec. 31, 2017
Assets:
Cash		$	330					$	230
Accounts receivable			780						860
Inventory			670						630
Prepaid insurance			65						35
Plant and equipment			2,250						1,950
Less: Accumulated depreciation			(900	)					(630	)
Total assets		$	3,195					$	3,075
Liabilities and Shareholders' Equity:
Accounts payable		$	330					$	390
Payables for administrative and other expenses			330						430
Income taxes payable			230						180
Note payable (due 12/31/2019)			830						630
Common stock			930						830
Retained earnings			545						615
Total liabilities and shareholders' equity		$	3,195					$	3,075

Required: Prepare the cash flows from operating activities section of Tiger's 2018 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. (Hint: Use T-accounts for the pertinent items to isolate the information needed for the statement.) (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.)

Answer is complete but not entirely correct. TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2018 (S in thousands) Cash flows from operating activities: 7,260 Collections from customers Interest and dividends (3,390) Payment to inventory suppliers 100 (160) Prepayment of insurance Payment of income taxes (580) Payment for administrative & other expenses (1,930) Net cash flows from operating activities 1,300 A