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Please help The following information pertains to Peak Heights Company: 3 18.2/20 points awarded Income Statement for Current Year Sales $86,000 Expenses Cost of goods
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The following information pertains to Peak Heights Company: 3 18.2/20 points awarded Income Statement for Current Year Sales $86,000 Expenses Cost of goods $51,875 sold Depreciation 7,200 expense Salaries 11,500 70,575 expense Net income $15,425 Scored Partial Balance Sheet Accounts receivable Inventory Salaries payable Current Prior year year $11,300 $15,700 12,300 8, 100 1,690 830 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. (List cash outflows as negative amounts.) PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities: $ Net income 15,425 Depreciation expense 7,200 Salaries payable increase 860 Accounts receivable decrease 4,400 Inventory increase 4,200% Net cash provided by operating $ activities 32,085 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; noStep by Step Solution
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