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The following information pertains to Peak Heights Company: Income Statement for 2015 Sales $86,500 Expenses Cost of goods sold $51,775 Depreciation expense 7,100 Salaries expense
The following information pertains to Peak Heights Company: Income Statement for 2015 Sales $86,500 Expenses Cost of goods sold $51,775 Depreciation expense 7,100 Salaries expense 10,800 69,675 Net income $16,825 Partial Balance Sheet 2015 2014 Accounts receivable $9,500 $13,300 Inventory 13,900 9,000 Salaries payable 1,650 860 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 Cash flows from operating activities
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