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ANSWER THIS QUESTION PLEASE. I CAN ONLY FILL OUT WHERE IT HAS THE BLUE HIGHLIGHT Portions of the financial statements for Peach Computer are provided
ANSWER THIS QUESTION PLEASE. I CAN ONLY FILL OUT WHERE IT HAS THE BLUE HIGHLIGHT
Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2018 Net sales $1,775,000 Expenses: Cost of goods sold $1,040,000 Operating expenses 550.000 Depreciation expense 49,000 Income tax expense 39,000 Total expenses 1,678.000 Net income $ 97,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (0) 2018 2017 Decrease (D) $101.000$84,500 $16.500 (6) Cash Accounts receivable 46,100 49,500 3.400 (D) Inventory 74.000 54.500 19.500 (U) Prepaid rent 2,900 4,800 1,900 (D) Accounts payable 44.000 36,500 7,500 (0) Income tax payable 4.900 9.500 4.600 (D) Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the direct method. (Llst cash outflows as negative amounts.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2018 Cash flows from operating activities: Net cash flows from operating activitiesStep by Step Solution
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