Exercise 21-21 Cash flows from operating activities (direct method) derived from an income statement and cash flows from operating activities (indirect method) [LO21-3, 21-4] The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in 000s) for Peach Computers.

Exercise 21-21 Cash flows from operating activities (direct method derived from an income statement and cash flows from operating activities (ndirect method0 LO213, 21.4l The income statement and a schedule reconciling cash flows from operating activities to net income are provided below in 000s) for Peach Computers. PEACH COMPUTERS Income Statement For the Year Ended December 31, 2016 Sales 605.0 Cost of goods sold (242.0) Gross margin Salaries expense $73.0 50,0 Insurance expense Dopreciation exponso 24,0 22.0 169.0 Loss on sale of land Income before tax 94.0 Income tax expense S 97.0 Reconciliation of Net Income To Nat Cash Flows from Operating Activities Net income 97.0 Adjustments for Noncash Effects 24.0 epreciation expense Loss on sale of land 22.0 Changes in operating assets and Decrease in accounts receivable 26.0 (113.0) Increase in inventory in accounts payable Increase in salaries payable Decrease in prepaid insurance 19.0 Increase in income tax payable Net cash flows from operating activities S 143.0 Required: 1. Calculate each of the folowing amounts for Peach Computers: (Enter your answers in thousands rounded to 1 decimal place (ie.. 5,500 should be entered as 5.50. Amounts for cash outflows should be indicated with a minus sign. a. Cash received from customers during the reporting period, b. Cash paid to suppliers ofgoods during the reporting period. Cash paid to employees during the reporting period. d. Cash paid for insuranco during the roporting poriod. e. Cash paid for income taxes during the reporting period. 2. Prepare the cash flows from operating activities section ofthe statement of cash fows (direct method) (Enter your answers in thousands rounded to 1 decimal place (i.e., 5.500 should be entered as 5.5). Amounts to be deducted should be indicated with a minus sign.) Cash Flows from Operating Activities: Net cash flows from operating activities S 0.0