et 11 Help Save & Exit Check Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2021 Net sales $1.925,000 Expenses Cost of goods sold $1,1ee, eee Operating expenses 610,000 Depreciation expense 55.000 Income tax expense 45.ee Total expenses 1,810, een Net income $ 115, eee PEACH COMPUTER Selected Balance Sheet Data December 31 Cash Accounts receivable Inventory Prepaid rent Accounts payable Income tax payable 2021 $107.000 45,500 Be, ce 3,500 50,000 5,5ee 2020 $87,500 51,500 57,500 6,000 39,500 12, see Increase (I) or Decrease (D) $19, see (1) 6,000 (D) 22, see (1) 2,500 (0) 10,500 (1) 7.000 (D) Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the Indirect method. (Liscash outflows and any decrease in cash as negative amounts.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2021 Cash flows from operating activities Net income $ 115,000 Adiustments to record net income to not Cash Accounts receivable Inventory Prepaid rent Accounts payable Income tax payable 2021 $107,000 45,500 80,000 3,500 5e,eee 5,500 2e2e $87,500 51,500 57,5ee 6,000 39, see 12,500 Increase or Decrease (D) $19,500 (1) 6,000 (D) 22,500 (1) 2,5ee (D) 10,500 (1) 7,000 (0) Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2021 Cash flows from operating activities: Net income $ 115,000 Adjustments to reconcile net income to net cash flows from operating activities: Not cash flows from operating activities $ 115,000 12 Net