nces Portions of the financial statements for Peach Computer are provided below. Net sales Expenses: PEACH COMPUTER Income Statement For the year ended December 31, 2024 Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income $1,825,000 $1,060,000 570,000 51,000 41,000 1,722,000 $103,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (I) or 2024 2023 Decrease (D) Cash $103,000 $85,500 $17,500 (I) Accounts receivable. 45,100 49,500 4,400 (D) Inventory 76,000 55,500 20,500 (I) Prepaid rent 3,100 5,200 2,100 (D) Accounts payable 46,000 37,500 8,500 (I) Income tax payable 5,100 10,500 5,400 (D) Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the direct m deducted should be indicated with a minus sign.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Cash flows from operating activities Decrease in income tax payable Prev 1 of 2 Next >