Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. $ 9,500 6,840 2,660 (1,064) $ 1,596 Dec. 31, 2020 TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue Operating expenses: Cost of goods sold $3,900 Depreciation expense 290 Insurance expense 350 General and administrative expense 2,300 Total operating expenses Income before income taxes Income tax expense Net income Balance Sheet Information ($ in thousands) Dec. 31,2021 Assets: Cash $ 400 Accounts receivable 775 Inventory 715 Prepaid insurance 100 Equipment 2,600 Less: Accumulated depreciation (940) Total assets $3,650 Liabilities and Shareholders' Equity: Accounts payable $ 325 Accrued liabilities (for general & administrative expense) 325 Income taxes payable 225 Notes payable (due 12/31/2022) 1,100 Common stock 1,000 Retained earnings 675 Total liabilities and shareholders' equity $ 3,650 $ 250 880 650 2,050 (650) $ 3,225 410 450 200 850 850 465 $ 3,225 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.) TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Cash, January 1 Cash, December 31