Income Statement for Current Year Sale $ 85,000 Expenses Cost of goods sold $51.775 Depreciation expense 8,300 Salaries expense 11,700 71,275 Not income $14,025 Partial Balance Sheet Accounts receivable Inventory Salarion payable Current Prior year year $10,100 $14,200 12,100 8,200 1,590 930 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.) 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.) PEAK HEIGHTS COMPANY Statement of Cash Flown (Partial) Cash flows from operating activities: Cash collected from customers Cash payments for income tax Cash payments for other expenses Cash payments to employees Cash payments to suppliers of inventory