Question

Presented below is the 2018 income statement and comparative balance sheet information for Tiger Enterprises.

TIGER ENTERPRISES
Income Statement
For the Year Ended December 31, 2018
($ in thousands)
Sales revenue								$	9,000
Operating expenses:
Cost of goods sold		$	3,800
Depreciation			280
Insurance			300
Administrative and other			2,200
Total operating expenses									6,580
Income before income taxes									2,420
Income tax expense									968
Net income								$	1,452
Balance Sheet Information ($ in thousands)	Dec. 31,2018						Dec. 31, 2017
Assets:
Cash		$	380					$	240
Accounts receivable			770						870
Inventory			700						640
Prepaid insurance			90						40
Plant and equipment			2,500						2,000
Less: Accumulated depreciation			(920	)					(640	)
Total assets		$	3,520					$	3,150
Liabilities and Shareholders' Equity:
Accounts payable		$	320					$	400
Payables for administrative and other expenses			320						440
Income taxes payable			220						190
Note payable (due 12/31/2019)			1,040						800
Common stock			980						840
Retained earnings			640						480
Total liabilities and shareholders' equity		$	3,520					$	3,150

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.)

	TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2018 ($ in thousands)    $0 0 0 $0

Answer 1

Tiger’s statement of cash flows, using the indirect method to present cash flows from operating activities IS PROVIDED HERE AS HAND WRITTEN NOTES. PLEASE FIND THE ATTACHMENT. (3 PAGES)

968 Note I - Income tax pail :- Plouigte Income tax pay able at the beginning 190 - at the end 220 Income tax expense Income tax paul (190+968-220) 938 Note 2 :- Dondende paid :- 480 1452 Retained Earnings (opening ) (+) Net prost current period -> Refused Casting (eloong) Dividends boud - 640 1292