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 $ 86, See Expenses Cost of goods sold $51,775 Depreciation expense 6,700 Salaries expense 11,5ee 69,975 Net income $ 16,525 Partial Balance Sheet Accounts receivable Inventory Salaries payable Current Prior year $ 9,600 $ 15,200 13,200 8.800 1,640 References 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 flows from operating activities