ortions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2021 Net sales $2,850,000 Expenses: Cost of goods sold $1,150,000 Berating expenses 660,000 Depreciation expense 60.000 Income tax expense 50,000 Total expenses 1,920,000 let Income $ 130,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Cash Accounts receivable Inventory Prepaid rent Accounts payable Income tax payante 2021 $112.000 66, 85,000 4.000 55,000 5.000 2020 $90.000 54,000 60.000 7.000 4200) 15.000 Increase OF Decase $22,000 (1) 0.0000) 91.000 (1) S.ODD0) 13.000 9.000 PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2021 Cash flows from operating activities Adjustments to reconcile net income to net cash flows from operating activities Not cash lows from operating activities $ 0