The following information pertains to Peak Heights Company Income Statement for Current Year Sales $ 85,500 Cost of goods sold Depreciation expense Salaries expense 51,775 8,500 10,400 70,675 Net income $ 14,825 Current Prior year Partial Balance Sheet Accounts receivable Inventory Salaries payable year $ 10,300 $ 13,000 9,900 800 14,000 1,620 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 for income tax Cash payments for other expenses Cash payments to employees Cash payments to suppliers of inventory