The following information pertains to Peak Heights Company: Income Statement for Current Year Sales Expenses $ 85,400 Cost of goods sold Depreciation expense Salaries expense $51,775 7,500 11,500 70,775 Net income $ 14,625 Current Prior year Partial Balance Sheet Accounts receivable Inventory Salaries payable year 11,400 $ 12,900 9,800 890 13,800 1,730 Required Present the operating activities section of the statement of cash flows for Peak Heights Company using the direct method. (List cash outflows as negative amounts.) PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities Cash collected from customers Cash payments to employees Cash payments to employees Cash payments to suppliers of inventory