The following information pertains to Peak Heights Company: Income Statement for Current Year Sales $ 93,000 Expenses Cost of goods sold $51,875 Depreciation expense Salaries expense 12,000 69,875 Net income $ 23, 125 Partial Balance Sheet Accounts receivable Inventory Salaries payable Current Prior year year $10,500 $ 12,000 13,000 8,000 2,250 800 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.) Answer is not complete. PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities: Net income Depreciation expense Inventory increase Accounts receivable decrease Salaries payable increase 23,125 6,000 (5,000) 500X 1,950 26,575