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The following information pertains to Peak Heights Company: Income Statement for Current Year Sales $ 85,900 Expenses Cost of goods sold $ 51,875 Depreciation expense
The following information pertains to Peak Heights Company: Income Statement for Current Year Sales $ 85,900 Expenses Cost of goods sold $ 51,875 Depreciation expense 7,500 Salaries expense 10,400 69,775 Net income $ 16,125 Partial Balance Sheet Current year Prior year Accounts receivable $ 10,400 $ 14,800 Inventory 12,000 8,400 Salaries payable 1,730 890 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. Note:
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