Saved 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 Expenses $86,400 Cost of goods sold $51,875 Depreciation expense 8,300 Salaries expense 10,800 70,975 Net income $15,425 Help Partial Balance Sheet Accounts receivable Inventory Salaries payable Required: Current Prior year year $11,200 $15,600 13,300 1,590 8,200 930 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: Present the operating activities section of the stater outflows as negative amounts.) PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities: Net income Net loss ok t Accounts rece Inventory 13,300 8,200 Salaries payable 1,590 930 Required: Present the operating activities section of the stateme outflows as negative amounts.) PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) nces Cash flows from operating activities: Accounts receivable decrease Accounts receivable increase Depreciation expense Inventory decrease