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The following information pertains to Peak Heights Company: Income Statement for Current Year Sales $ 85,100 Expenses Cost of goods sold $51, 775 Depreciation expense
The following information pertains to Peak Heights Company: Income Statement for Current Year Sales $ 85,100 Expenses Cost of goods sold $51, 775 Depreciation expense 7,300 Salaries expense 10,500 69,575 Net income $ 15,525 Partial Balance Sheet Accounts receivable Inventory Salaries payable Current Prior year year $10,300 $ 14,900 12,400 9,100 1,620 810 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.) PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities
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