Sales Expenses Income Statement for Current Year Cost of goods sold Depreciation expense Salaries expense Net income $ 85,200 $ 51,875 7,900 10,000 69,775 $ 15,425 Partial Balance Sheet Current year Prior year Accounts receivable Inventory Salaries payable Required: $ 11,300 $ 14,600 14,000 1,670 Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. Note: List cash outflows as negative amounts. 9,000 920 Answer is not complete. PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities: Net income Accounts receivable decrease Depreciation expense Inventory increase Salaries payable increase $ 15,425 3,300 7,900 5,000 750 $ 32,375