2 Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2021 Net sales $1,575,000 pints Expenses: Cost of goods sold $960,000 Operating expenses 470,000 Depreciation expense 41,000 Income tax expense 31,000 Total expenses Net income 1,502,000 $ 73,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (I) or 2021 2020 Decrease (D) Cash $93,000 $80,500 $12,500 (1) Accounts receivable 46,900 53,500 6,600 (D) Inventory 66,000 50,500 15,500 (1) Prepaid rent 2,100 3,200 1,100 (0) Accounts payable 36,000 32,500 3,500 (I) Income tax payable 4,100 5,500 1,400 (D) Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the direct method. (List cas outflows and any decrease in cash as negative amounts.) Answer is complete but not entirely correct. PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2021 Cash flows from operating activities: Cash received from customers (1,581,600) Cash paid to suppliers 972,000 Cash paid for operating expenses 470,000 Cash paid for income taxes 32,400X Net cash flows from operating activities $ -107.200