PEACH COMPUTER Income Statement For the year ended December 31, 2018 Net sales $1,825.000 Expenses Cost of goods sold $1,060,000 Operating expenses 570,000 Depreciation expense 51,000 Income tax expense 41.000 Total expenses 1722.000 Net income $ 103.000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (0) or 2018 2017 Decrease (D) $103,000$85,500 Cash $17.500 (0) Accounts receivable 45,100 49,500 4,400 (D) Inventory 76,000 55,500 20.500 (0) Prepaid rent 3,100 5,200 2,100 (D) Accounts payable 46,000 37,500 8,5000 Income tax payable 5,100 10,500 5,400 (DI 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) D Cash Accounts receivable Inventory Prepaid rent Accounts payable Income tax payable On 2018 2017 Decrease D $103.000$85,500 $17,500 (0 45,100 49,500 4400 (D) 76,000 55,500 20,500 (0 3,100 5,200 2100 D 46,000 37.500 8,500 5100 10.500 5.400 (D) 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 cosh as negative amounts.) PEACH COMPUTER Statement of Cash Flows partial) For the Year Ended December 31, 2018 Cash flows from operating activities Adjustments to reconcile net income to net cash flows from operating activities Net cash flows from operating activities