Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2021 Net sales Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income $1,550,000 $950,000 460,000 40,000 30,000 1,480,000 $ 70,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (I) or 2021 2020 Decrease (D) Cash $92,000 $80,000 $12,000 (I) Accounts receivable 47,000 54,000 7,000 (D) Inventory 65,000 50,000 15,000 (I) Prepaid rent 2,000 3,000 1,000 (D) Accounts payable 35,000 32,000 3,000 (I) Income tax payable 4,000 5,000 1,000 (D) 25 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.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2021 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flows from operating activities: $ 70,000 Net cash flows from operating activities $ 70,000