The following information pertains to Peak Heights Company: Income Statement for Current Year Sales Expenses Cost of goods sold $ 51,775 Depreciation 6,800 11,900 expense Salaries expense Net income Partial Balance Sheet Accounts receivable Inventory Salaries payable Current $ 86,900 Cash flows from operating activities: 70,475 $ 16,425 year $ 11,400 12,800 1,720 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. Note: List cash outflows as negative amounts. PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Prior year $ 14,500 8,600 840 $ 0

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The following information pertains to Peak Heights Company: Income Statement for Current Year Sales Expenses Cost of goods sold $ 51,775 Depreciation expense Salaries expense $ 86,900 6,800 11,900 Net income 70,475 $ 16,425 Partial Balance Sheet Accounts receivable Inventory Current year Prior year $ 11,400 12,800 $14,500 8,600 Salaries payable 1,720 840 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. Note: List cash outflows as negative amounts. PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities: The following information pertains to Peak Heights Company: Income Statement for Current Year Sales Expenses Cost of goods sold $ 51,775 Depreciation expense Salaries expense $ 86,900 6,800 11,900 Net income 70,475 $ 16,425 Partial Balance Sheet Accounts receivable Inventory Current year Prior year $ 11,400 12,800 $14,500 8,600 Salaries payable 1,720 840 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. Note: List cash outflows as negative amounts. PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities: