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Time remaining: 1:51:51 18 Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended Decomber 31,
Time remaining: 1:51:51 18 Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended Decomber 31, 2018 $1,550,000 Net sales Expenses Cost of goods sok Operating expenses Depreciation expense Income tax expense 5950,000 460,000 40,000 30,000 1,480,000 Total expenses Net income S 70,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (1) 2018 2017 Decrease (D) $12,00D (l) 7,000 (D) 15,000() 1,000 (D) 3,000 () 1,000 (D) $92,000 $80,000 47,000 54,000 50,000 3,000 32,000 5,000 Cash Accounts receivable Inventory Prepaid rent Accounts payable Incorme tax payable 65,000 35,000 4,000 Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the dlrect method. (List cash outflows as negative amounts.) Required Prepare the operating activities section of the statement of cash flows for Peach Computer using the direct method. (List cash outflows as negative amounts.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2018 Cash flows from operating activities: Net cash flows from operating activities
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