Please do not give solution in image format thanku Presented below is the 2024 income statement and comparative balance sheet information for Tiger Enterprises.TIGER ENTERPRISESIncome StatementFor the Year Ended December 31, 2024($ in thousands)Sales revenueOperating expenses:Cost of goods soldDepreciation expenseInsurance expenseGeneral and administrative expenseTotal operating expensesIncome before income taxesIncome tax expenseNet incomeBalance Sheet Information ($ in thousands)Assets:CashAccounts receivableInventoryPrepaid insuranceEquipmentLess: Accumulated depreciationTotal assetsLiabilities and Shareholders' Equity:Accounts payableAccrued liabilities (for general & administrative expense)Income taxes payableNotes payable (due 12/31/2025)Common stockRetained earningsTotal liabilities and shareholders' equity$ 3,8002803002,200December 31,2024$ 380770700902,500(920)$ 3,520$ 3203202201,040980640$ 3,520$ 9,0006,5802,420(968)$ 1,452December 31, 2023$ 240870640402,000(640)$ 3,150$ 400440190800840480$ 3,150Required:Prepare Tiger's statement of cash flows, using the indirect method to present cash flows from operating activities. (Hint: You will haveto calculate dividend payments).Note: Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign. Cash flows from operating activities:For the Year Ended December 31, 2024($ in thousands)Adjustments for noncash effects:TIGER ENTERPRISESStatement of Cash FlowsChanges in operating assets and liabilities:Net cash flows from operating activitiesCash flows from investing activities:Net cash flows from investing activitiesCash flows from financing activities:Cash, January 1Cash, December 31Net cash flows from financing activitiesNet increase in cash

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Description: Please do not give solution in image format thanku Presented below is the 2024 income statement and comparative balance sheet information for Tiger Enterprises.TIGER ENTERPRISESIncome StatementFor the Year Ended December 31, 2024($ in thousands)Sales

It is important in the business entity to prepare the Cash flow statement which can be determine the…

Business

Accounting

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.

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.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 19BEA

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