Question
The following Information pertains to Peak Heights Company: Income Statement for Current Year Sales Expenses Cost of goods sold $ 86,200 $51,675 Depreciation expense
The following Information pertains to Peak Heights Company: Income Statement for Current Year Sales Expenses Cost of goods sold $ 86,200 $51,675 Depreciation expense 6,800 Salaries expense 10,300 68,775 Net income $ 17,425 Partial Balance Sheet Accounts receivable Inventory Salaries payable Current Prior year year $ 9,600 $13,800 13,300 8,400 1,630 870 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: S 0
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started