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Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. 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 For the Year Ended December 31, 2021 ($ in thousands) TIGER ENTERPRISES Income Statement Total assets Liabilities and Shareholders' Equity: Accounts payable Accrued liabilities (for general & administrative expense) Income axes payable Notes payable (due 12/31/2022) Common stock Retained earnings Total liabilities and shareholders' equity Cash flows from operating activities: TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 ($ in thousands) $3,360 240 100 1,800 Dec. 31, 2021 $ 300 750 640 50 $ 2,100 (840) $3,000 300 300 200 800 900 500 $3,000 $ 7,000 5,500 1,500 (600) 900 $ Dec. 31, 2020 $ 200 830 600 20 1,800 (600) $ 2,850 $ 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.) 360 400 150 600 800 540 $ 2,850

Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. 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 For the Year Ended December 31, 2021 ($ in thousands) TIGER ENTERPRISES Income Statement Total assets Liabilities and Shareholders' Equity: Accounts payable Accrued liabilities (for general & administrative expense) Income axes payable Notes payable (due 12/31/2022) Common stock Retained earnings Total liabilities and shareholders' equity Cash flows from operating activities: TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 ($ in thousands) $3,360 240 100 1,800 Dec. 31, 2021 $ 300 750 640 50 $ 2,100 (840) $3,000 300 300 200 800 900 500 $3,000 $ 7,000 5,500 1,500 (600) 900 $ Dec. 31, 2020 $ 200 830 600 20 1,800 (600) $ 2,850 $ 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.) 360 400 150 600 800 540 $ 2,850

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please help with attached question, thanks so much.

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 69 $ 0 0 0 0 0
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 69 $ 0 0 0 0 0
Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. 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 For the Year Ended December 31, 2021 ($ in thousands) TIGER ENTERPRISES Income Statement Total assets Liabilities and Shareholders' Equity: Accounts payable Accrued liabilities (for general & administrative expense) Income axes payable Notes payable (due 12/31/2022) Common stock Retained earnings Total liabilities and shareholders' equity Cash flows from operating activities: TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 ($ in thousands) $3,360 240 100 1,800 Dec. 31, 2021 $ 300 750 640 50 $ 2,100 (840) $3,000 300 300 200 800 900 500 $3,000 $ 7,000 5,500 1,500 (600) 900 $ Dec. 31, 2020 $ 200 830 600 20 1,800 (600) $ 2,850 $ 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.) 360 400 150 600 800 540 $ 2,850
Transcribed Image Text:Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. 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 For the Year Ended December 31, 2021 ($ in thousands) TIGER ENTERPRISES Income Statement Total assets Liabilities and Shareholders' Equity: Accounts payable Accrued liabilities (for general & administrative expense) Income axes payable Notes payable (due 12/31/2022) Common stock Retained earnings Total liabilities and shareholders' equity Cash flows from operating activities: TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2021 ($ in thousands) $3,360 240 100 1,800 Dec. 31, 2021 $ 300 750 640 50 $ 2,100 (840) $3,000 300 300 200 800 900 500 $3,000 $ 7,000 5,500 1,500 (600) 900 $ Dec. 31, 2020 $ 200 830 600 20 1,800 (600) $ 2,850 $ 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.) 360 400 150 600 800 540 $ 2,850
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