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The following information pertains to Peak Heights Company: Income Statement for Current Year Sales Expenses Cost of goods sold $ 51,675 expense $ 86,300 Depreciation
The following information pertains to Peak Heights Company: Income Statement for Current Year Sales Expenses Cost of goods sold $ 51,675 expense $ 86,300 Depreciation Salaries expense 7,800 11,800 71,275 Net income $ 15,025 Partial Balance Sheet Current year Prior year Accounts receivable $ 10,400 Inventory 12,200 $14,300 8,600 Salaries payable 1,580 990 Required: 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. PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities: $
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