The following information pertains to Peak Heights Company: Income Statement for Current Year Sales $93,000 Expenses Cost of goods $51,875 sold Depreciation 6,000 expense Salaries 12,000 69,875 expense Net income $23, 125 Partial Balance Current Prior Sheet year year Accounts receivable $10,500 $12,000 Inventory 13,000 8,000 Salaries 2,250 800 payable 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.) X Answer is not complete. PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities: $ Net income 24,175 Depreciation expense 6,000 Salaries payable increase 1,450 Accounts receivable decrease 500X Inventory increase (5,000 Accounts receivable increase X 26,075 $ 53,200