$ 93,000 Income Statement for Current Year Sales Expenses Cost of goods sold $51,875 Depreciation expense 6,000 Salaries expense 12,000 Net income 69,875 $ 23, 125 Partial Balance Sheet Accounts receivable Inventory Salaries payable Current Prior year year $10,500 $ 12,000 13,000 8,000 2,250 800 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the direct method. (List cash outflows as negative amounts.) Answer is not complete. PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities: Cash collected from customers Cash payments for other expenses X Cash payments for income tax x Cash payments to employees Cash payments to suppliers of inventory Net cash provided by operating activities $ 0