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 Income Statement For the Year Ended December 31, 2021 ($ in thousands) 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 12/31/2022) Common stock Retained earnings Total liabilities and shareholders' equity $ 3,440 320 180 1,880 Dec. 31,2021 $ 380 830 720 90 2,500 (1,000) $ 3,520 $ 380 380 280 880 980 620 $ 3,520 $ 7,480 5,820 1,660 (680) $ 980 Dec. 31, 2020 $ 280 910 680 60 2,200 (680) $ 3,450 $ 440 480 230 680 880 740 $ 3,450 Required: Prepare the cash flows from operating activities section of Tiger's 2021 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. (Amounts to o deducted should be indicated with a minus sian Enter your answers in thousandel

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