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Portions of the financial statements for Peach Computer are provided below. Net sales Expenses: PEACH COMPUTER Income Statement For the year ended December 31, 2024
Portions of the financial statements for Peach Computer are provided below. Net sales Expenses: PEACH COMPUTER Income Statement For the year ended December 31, 2024 Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income Cash Accounts receivable Inventory Prepaid rent Accounts payable Income tax payable PEACH COMPUTER Selected Balance Sheet Data December 31 2024 $109,000 45,700 82,000 $1,120,000 630,000 57,000 47,000 3,700 52,000 5,700 2023 $88,500 52,500 58,500 6,400 40,500 13,500 $1,975,000 1,854,000 $121,000 Increase (I) or Decrease (D) $20,500 (I) 23,500 6,800 (D) (I) 2,700 (D) 11,500 (I) 7,800 (D) Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
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