E12-7 (Algo) Reporting Cash Flows from Operating Activities (Indirect Method) LO12-2 The following information pertains to Peak Heights Company Income Statement for Current Year Sales $ 85,900 Expenses Cost of goods sold $51,675 Depreciation expense 8.400 Salaries expense 11,78e 71,775 Net income 14,125 Partial Balance Sheet Accounts receivable Inventory Salaries payable Current Prior year year $11,000 $14,900 12,800 8,780 1,580 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 (Partial) Cash Bows from operating actives