Exercise 4-20 (Algo) Statement of cash flows; indirect method [LO4-8] Presented below is the 2024 income statement and comparative balance sheet information for Tiger Enterprises. TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2024. ($ 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 12/31/2025) Retained earnings Common stock Total liabilities and shareholders' equity Required: $ 12,000 $ 4,400 340 600 2,800 8,140 3,860 (1,544) $ 2,316 December 31, 2024 December 31, 2023 $ 500 $ 300 800 930 790 700 150 70 3,100 2,300 (700) (1,040) $ 4,300 $ 350 350 $ 3,600 $ 460 500 265 250 1,180 850 1,100 900 1,055 640 $ 4,300 $ 3,600 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). Note: Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.
Exercise 4-20 (Algo) Statement of cash flows; indirect method [LO4-8] Presented below is the 2024 income statement and comparative balance sheet information for Tiger Enterprises. TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2024. ($ 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 12/31/2025) Retained earnings Common stock Total liabilities and shareholders' equity Required: $ 12,000 $ 4,400 340 600 2,800 8,140 3,860 (1,544) $ 2,316 December 31, 2024 December 31, 2023 $ 500 $ 300 800 930 790 700 150 70 3,100 2,300 (700) (1,040) $ 4,300 $ 350 350 $ 3,600 $ 460 500 265 250 1,180 850 1,100 900 1,055 640 $ 4,300 $ 3,600 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). Note: Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Exercise 4-20 (Algo) Statement of cash flows; indirect method [LO4-8]
Presented below is the 2024 income statement and comparative balance sheet information for Tiger Enterprises.
TIGER ENTERPRISES
Income Statement
For the Year Ended December 31, 2024
($ 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 12/31/2025)
Retained earnings
Common stock
Total liabilities and shareholders' equity
Required:
$ 12,000
$ 4,400
340
600
2,800
8,140
3,860
(1,544)
$ 2,316
December 31,
2024
December 31, 2023
$ 500
$ 300
800
930
790
700
150
3,100
(1,040)
70
2,300
(700)
$ 4,300
$ 3,600
$ 350
$ 460
350
500
265
250
1,180
850
1,100
900
1,055
640
$ 4,300
$ 3,600
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).
Note: Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff2f7dec7-3357-4ffd-9b0c-3255a55bd67f%2Fb9cce5c0-292e-41f8-8610-60fc94eaed70%2F4ul0pqk_processed.png&w=3840&q=75)
Transcribed Image Text:Exercise 4-20 (Algo) Statement of cash flows; indirect method [LO4-8]
Presented below is the 2024 income statement and comparative balance sheet information for Tiger Enterprises.
TIGER ENTERPRISES
Income Statement
For the Year Ended December 31, 2024
($ 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 12/31/2025)
Retained earnings
Common stock
Total liabilities and shareholders' equity
Required:
$ 12,000
$ 4,400
340
600
2,800
8,140
3,860
(1,544)
$ 2,316
December 31,
2024
December 31, 2023
$ 500
$ 300
800
930
790
700
150
3,100
(1,040)
70
2,300
(700)
$ 4,300
$ 3,600
$ 350
$ 460
350
500
265
250
1,180
850
1,100
900
1,055
640
$ 4,300
$ 3,600
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).
Note: Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.
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