1625 points Exercise 111 Calculate operating activities indirect method 101 2) Portions of the financial statements for Peach Computer are provided below PEACH Income Statement For the year ended December 31, 2018 Net sales $1.975,000 Cost ot goods sold Operating expenses Depreciation expense Income tax expense $1.120,000 630,000 57,000 47,000 Total expenses 1,854.000 Net income s 121.000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase () 2018 2017 Decrease (D) Accounts recevable45700 52,500 6,00 (D or $109,000 88,500 S20500 82,000 58,500 23.500 Cash () 2,700 (D) Prepaid rent Accounts payable Income tax payable 3,700 6.400 52,000 40.500 5,700 13,500 11.500 () Required tirities section of the statement of cash flows for Peach Computer using the indirect method. (List cash outflows and any decrease in cash as negative a Required: Prepare the operating activities section of the statement of cash lows for Peach Computer using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) Statement of Cash Flows (partial) Cash flows from operating actvities Adjustments to reconcile net income to net cash flows from operating activities Net cash flows from operating activities Hints References eBook & Resources Hint #1 Type here to search