question archive The following information pertains to Peak Heights Company: $ 85, 300 Income Statement for Current Year Sales Expenses Cost of goods sold $51,675 Depreciation expense 6,700 Salaries expense 10,900 Net income 69, 275 $ 16,025 Partial Balance Sheet Accounts receivable Inventory Salaries payable Current Prior year year $11,300 $ 14,600 13,300 8,800 1,570 970 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the direct method
The following information pertains to Peak Heights Company: $ 85, 300 Income Statement for Current Year Sales Expenses Cost of goods sold $51,675 Depreciation expense 6,700 Salaries expense 10,900 Net income 69, 275 $ 16,025 Partial Balance Sheet Accounts receivable Inventory Salaries payable Current Prior year year $11,300 $ 14,600 13,300 8,800 1,570 970 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the direct method
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The following information pertains to Peak Heights Company: $ 85, 300 Income Statement for Current Year Sales Expenses Cost of goods sold $51,675 Depreciation expense 6,700 Salaries expense 10,900 Net income 69, 275 $ 16,025 Partial Balance Sheet Accounts receivable Inventory Salaries payable Current Prior year year $11,300 $ 14,600 13,300 8,800 1,570 970 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the direct method. (List cash outflows as negative amounts.) PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities:
