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Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2021 Net sales
Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2021 Net sales $1,600,000 Expenses: 07 Cost of goods sold $970,000 d Operating 480,000 expenses Depreciation 42,000 expense k Income tax 32,000 expense Total expenses 1,524,000 Net income 76,000 nce Cash PEACH COMPUTER Selected Balance Sheet Data December 31 Accounts 2021 2020 Increase (I) or Decrease (D) $94,000 $81,000 $13,000 (I) receivable 46,800 53,000 6,200 (D) Inventory 67,000 51,000 16,000 (I) Prepaid rent 2,200 3,400 1,200 (D) Accounts payable 37,000 33,000 4,000 (I) Income tax payable 4,200 6,000 1,800 (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
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