E12-7 Reporting Cash Flows from Operating Activities (Indirect Method) L012-2 The following information pertains to Peak Heights Company: Sales S 85,200 Cost of goods sold S 51,775 7,600 10,100 69,475 Salaries expense Net income S 15,725 Current year Partial Balance Sheet Prior year $10,700 S 12,200 13,500 8,400 810 Inventory Salaries payable 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 operatng activities