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Present the operating activities section of the statement

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Reference no: EM132490756

The following information pertains to Peak Heights Company:

Income Statement for Current Year

Sales $86,100

Expenses Cost of goods sold$51,875

Depreciation expense 7,800

Salaries expense 11,800

                       71,475

Net income $14,625

Partial Balance Sheet                     Current year               Prior year

Accounts receivable                     $11,000                     $15,100

Inventory                                     12,800                         8,800

Salaries payable                            1,690                              870

Required:

Question 1: 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.)

Reference no: EM132490756

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