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The following information pertains to Peak Heights Company: Income Statement for Current Year Sales $ 86,100 Expenses Cost of goods sold $ 51,775 Depreciation




The following information pertains to Peak Heights Company:

   

Income Statement for Current Year
Sales

$ 86,100
Expenses



Cost of goods sold $ 51,775

Depreciation expense
7,800

Salaries expense
11,900
71,475
Net income

$ 14,625

   

Partial Balance Sheet Current year Prior year
Accounts receivable $ 10,100 $ 12,100
Inventory
12,200
8,600
Salaries payable
1,580
900


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.)
































   

Partial Balance Sheet Current year Prior year
Accounts receivable $ 10,100 $ 12,100
Inventory
12,200
8,600
Salaries payable
1,580
900


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:
Net income
Depreciation expense
Accounts receivable increase









$0

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