Unit 8 AS: Exercises and Problems (Connect) 4 Seved 7 points The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in thousands) for Peach Computers. PEACH COMPUTERS Income Statement For the Year Ended December 31, 2021 Sales $545.0 Skippe Cost of goods sold (210.0) Gross margin 327.0 Salaries expense 565.0 Insurance expense 42.0 Depreciation expense 20.0 ebook Loes on sale of land Income before tax 18.0 145.0 Income tax expense 182.0 (91.0) Net Income $ 91.0 Print Reconciliation of Net Incone To Net Cash Flows from Operating Activities References Net income $91.0 Adjustments for Noncash Effects Depreciation expense 20.0 Loss on sale of land 10.0 Changes in operating assets and liabilities: Decrease in accounts receivable 22.0 Increase in inventory (93.0) Decrease in accounts payable (56.0) Increase in salaries payable 37.0 Decrease in prepaid insurance 17.0 Increase in income tax payable 85.8 Net cash flows from operating activities $141.8 Required: 1. Calculate each of the following amounts for Peach Computers. 2. Prepare the cash flows from operating activities section of the statement of cash flows (direct method). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate each of the following amounts for Peach Computers. (Enter your answers in thousands rounded to 1 decimal place (ie., 5,500 should be entered as 5.5). Cash outflows must be indicated with a minus sign.) a Cash received from customers during the reporting period. b. Cash paid to suppliers of goods during the reporting period. c Cash paid to employees during the reporting period. d. e. Cash paid for insurance during the reporting period. Cash paid for income taxes during the reporting period. Required t Required 2 >