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Business, 24.10.2019 17:43 iyana479

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 $ 14,500 operating expenses: cost of goods sold $ 4,900 depreciation expense 390 insurance expense 850 general and administrative expense 3,300 total operating expenses 9,440 income before income taxes 5,060 income tax expense (2,024 ) net income $ 3,036 balance sheet information ($ in thousands) dec. 31,2021 dec. 31, 2020 assets: cash $ 600 $ 350 accounts receivable 825 980 inventory 795 750 prepaid insurance 120 30 equipment 3,100 2,550 less: accumulated depreciation (1,140 ) (750 ) total assets $ 4,300 $ 3,910 liabilities and shareholders' equity: accounts payable $ 375 $ 510 accrued liabilities (for general & administrative expense) 375 550 income taxes payable 355 300 notes payable (due 12/31/2022) 1,320 900 common stock 1,080 950 retained earnings 795 700 total liabilities and shareholders' equity $ 4,300 $ 3,910 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.)

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