Question

Presented below is the 2013 income statement and comparativebalance sheet information for Tiger Enterprises.

TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2013 ($ in thousands)
Sales revenue				$	11,000
Operatingexpenses:
Cost of goods sold	$	4,200
Depreciation		320
Insurance		500
Administrative and other		2,600
Totaloperating expenses					7,620
Income before incometaxes					3,380
Income taxexpense					1,352
Net income				$	2,028
Balance SheetInformation ($ in thousands)	Dec. 31, 2013			Dec. 31, 2012
Assets:
Cash	$	460		$	280
Accountsreceivable		790			910
Inventory		760			680
Prepaidinsurance		130			60
Plant andequipment		2,900			2,200
Less: Accumulateddepreciation		(1,000	)		(680	)
Totalassets	$	4,040		$	3,450
Liabilities andShareholders' Equity:
Accountspayable	$	340		$	440
Payables foradministrative and other expenses		340			480
Income taxespayable		240			230
Note payable (due12/31/2014)		1,060			750
Common stock		1,060			880
Retainedearnings		1,000			670
Totalliabilities and shareholders' equity	$	4,040		$	3,450

Required:

Prepare Tiger’s statement of cash flows, using the indirectmethod to present cash flows from operating activities. (Hint: Youwill have to calculate dividend payments.) (Enter youranswers in thousands. Amounts to be deducted should be indicatedwith a minus sign.)