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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 Operating expenses: Cost of goods sold Depreciation expense Insurance expense General and administrative expense Total operating expenses Income before income taxes Income tax expense Net Income Balance Sheet Information ($ in thousands) Assets: Cash Accounts receivable Inventory Prepaid insurance Equipment Less: Accumulated depreciation Total assets Liabilities and Shareholders' Equity: Accounts payable Accrued liabilities (for general & administrative expense) Income taxes payable Notes payable (due 12/31/2822) Connon stock Retained earnings Total liabilities and shareholders' equity $ 4,500 ក្មគ៖! 350 650 $ 2,900 Dec. 31,2021 $ 520 885 885 160 3,200 (1,060) $ 4,430 355 355 278 1,240 1,000 1,210 $ 4,430 $12,500 8,400 (1,640) $ 2,460 LA TIEN TU Dec. 31, 2020 $ $ 310 940 710 75 2,350 (710) $ 3,675 470 510 260 980 910 625 3,675 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 a minus sign.)

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 Operating expenses: Cost of goods sold Depreciation expense Insurance expense General and administrative expense Total operating expenses Income before income taxes Income tax expense Net Income Balance Sheet Information ($ in thousands) Assets: Cash Accounts receivable Inventory Prepaid insurance Equipment Less: Accumulated depreciation Total assets Liabilities and Shareholders' Equity: Accounts payable Accrued liabilities (for general & administrative expense) Income taxes payable Notes payable (due 12/31/2822) Connon stock Retained earnings Total liabilities and shareholders' equity $ 4,500 ក្មគ៖! 350 650 $ 2,900 Dec. 31,2021 $ 520 885 885 160 3,200 (1,060) $ 4,430 355 355 278 1,240 1,000 1,210 $ 4,430 $12,500 8,400 (1,640) $ 2,460 LA TIEN TU Dec. 31, 2020 $ $ 310 940 710 75 2,350 (710) $ 3,675 470 510 260 980 910 625 3,675 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 a minus sign.)

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 19BEA
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Cash flows from operating activities: For the Year Ended December 31, 2021 ($ in thousands) Adjustments for noncash effects: TIGER ENTERPRISES Statement of Cash Flows 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: Cash, January 1 Cash, December 31 Net cash flows from financing activities Net increase in cash
Transcribed Image Text:Cash flows from operating activities: For the Year Ended December 31, 2021 ($ in thousands) Adjustments for noncash effects: TIGER ENTERPRISES Statement of Cash Flows 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: Cash, January 1 Cash, December 31 Net cash flows from financing activities Net increase in cash
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 Operating expenses: Cost of goods sold Depreciation expense Insurance expense General and administrative expense Total operating expenses Income before income taxes Income tax expense Net income Balance Sheet Information ($ in thousands) Assets: Cash Accounts receivable. Inventory Prepaid insurance Equipment Less: Accumulated depreciation Total assets Liabilities and Shareholders' Equity: Accounts payable Accrued liabilities (for general & administrative expense) Income taxes payable Notes payable (due 12/31/2822) Connon stock Retained earnings Total liabilities and shareholders' equity $ 4,500 350 2,900 Dec. 31,2821 $ 520 885 805 160 3,200 (1,060) $ $ 4,430 355 355 278 1,240 1,000 1,210 $ 4,430 $12,500 8,480 4,100 (1,640) $ 2,460 Dec. 31, 2820 $ 310 948 718 75 $ 2,350 (718) $ 3,675 470 510 260 900 918 625 $ 3,675 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.)
Transcribed Image Text: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 Operating expenses: Cost of goods sold Depreciation expense Insurance expense General and administrative expense Total operating expenses Income before income taxes Income tax expense Net income Balance Sheet Information ($ in thousands) Assets: Cash Accounts receivable. Inventory Prepaid insurance Equipment Less: Accumulated depreciation Total assets Liabilities and Shareholders' Equity: Accounts payable Accrued liabilities (for general & administrative expense) Income taxes payable Notes payable (due 12/31/2822) Connon stock Retained earnings Total liabilities and shareholders' equity $ 4,500 350 2,900 Dec. 31,2821 $ 520 885 805 160 3,200 (1,060) $ $ 4,430 355 355 278 1,240 1,000 1,210 $ 4,430 $12,500 8,480 4,100 (1,640) $ 2,460 Dec. 31, 2820 $ 310 948 718 75 $ 2,350 (718) $ 3,675 470 510 260 900 918 625 $ 3,675 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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