es The following information pertains to Peak Heights Company: Income Statement for Current Year Sales Expenses Cost of goods sold $ 51,775 $ 86,900 Depreciation expense Salaries expense Net income Partial Balance Sheet Accounts receivable Inventory Salaries payable 7,700 10,400 369,875 $ 17,025 Current year Prior year $ 10,600 $ 14,400 13,700 1,720 9,800 810 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. Note: List cash outflows as negative amounts. PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities: Net income Accounts receivable decrease Inventory increase Salaries payable increase $ 17,025 (3,800) 3,900 910 $ 18,035