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8 Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2021 5
8 Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2021 5 nts Net sales Expenses: eBook Hint Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Print Net income eferences $1,150,000 660,000 $2,050,000 60,000 50,000 1,920,000 $ 130,000 ww PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (I) or 2021 Cash $112,000 2020 $90,000 Decrease (D) $22,000 (1) Accounts receivable 46,000 54,000 8,000 (D) Inventory 85,000 60,000 25,000 (1) Prepaid rent 4,000 7,000 3,000 (D) Accounts payable 55,000 42,000 13,000 (1) Income tax payable 6,000 15,000 9,000 (D) Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the indirect method. outflows and any decrease in cash as negative amounts.) Dray
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