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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). Note: 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, 2024 ($ in thousands) Cash flows from operating activities: Net income Adjustments for noncash effects Depreciation expense Changes in operating assets and liabilities: $ 3,324 410

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). Note: 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, 2024 ($ in thousands) Cash flows from operating activities: Net income Adjustments for noncash effects Depreciation expense Changes in operating assets and liabilities: $ 3,324 410

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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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). Note: 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, 2024 ($ in thousands) Cash flows from operating activities: Net income Adjustments for noncash effects Depreciation expense Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities Not nach am from instinn seine Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Cash, January 1 Cash, December 31 $ 3,324 410 $ 3,734 n $ $ 3,734 0 0 3,734 3,734
Transcribed Image Text: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). Note: 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, 2024 ($ in thousands) Cash flows from operating activities: Net income Adjustments for noncash effects Depreciation expense Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities Not nach am from instinn seine Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Cash, January 1 Cash, December 31 $ 3,324 410 $ 3,734 n $ $ 3,734 0 0 3,734 3,734
Presented below is the 2024 income statement and comparative balance sheet information for Tiger Enterprises. Sales revenue Operating expenses: Cost of goods sold Depreciation expense For the Year Ended December 31, 2024 ($ in thousands) Insurance expense General and administrative expense Total operating expenses Income before income taxes Income tax expense Net income TIGER ENTERPRISES Income Statement 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) Common stock Retained earnings Total liabilities and shareholders' equity $ 5,100 410 950 3,500 December 31, 2024 $648 835 825 140 3,300 (1,180) $4,560 $385 385 365 1,100 1,120 1,205 $4,560 $ 15,500 9,960 5,540 (2,216) $ 3,324 December 31, 2023 $ 370 1,000 770 40 2,650) (770) $ 4,060 $ 530 570 320 800 970 870 $4,060
Transcribed Image Text:Presented below is the 2024 income statement and comparative balance sheet information for Tiger Enterprises. Sales revenue Operating expenses: Cost of goods sold Depreciation expense For the Year Ended December 31, 2024 ($ in thousands) Insurance expense General and administrative expense Total operating expenses Income before income taxes Income tax expense Net income TIGER ENTERPRISES Income Statement 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) Common stock Retained earnings Total liabilities and shareholders' equity $ 5,100 410 950 3,500 December 31, 2024 $648 835 825 140 3,300 (1,180) $4,560 $385 385 365 1,100 1,120 1,205 $4,560 $ 15,500 9,960 5,540 (2,216) $ 3,324 December 31, 2023 $ 370 1,000 770 40 2,650) (770) $ 4,060 $ 530 570 320 800 970 870 $4,060
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