Portions of the financial statements for Peach Computer are provided below.

Required:

Prepare the operating activities section of the statement of cash flows for Peach Computer using the indirect method.

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PEACH COMPUTER Income Statement For the year ended December 31, 2021 Net sales $2,050,000 Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses $1,150,000 660,000 60,000 50,000 1,920,000 Net income $130,000