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7 Portions of the financial statements for Peach Computer are provided below. 4. nts PEACH COMPUTER Income Statement For the year ended December 31, 2018 Net sales $1,850,000 Expenses: Cost of goods sold $1,070,000 Operating expenses 580,000 Depreciation expense 52,000 Income tax expense 42,000 eBook Hint Print References Total expenses 1,744,000 Net income $ 106,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (0) or 2018 2017 Decrease (D) Cash $104,000$86,000 $18,000 (0) Accounts receivable 45,200 50,000 4,800 Mc 7 4 ants Selected Balance Sheet Data December 31 Increase (6) or 2018 2017 Decrease (D) Cash $104,000$86,000 $18,000 Accounts receivable 45.200 50.000 4,800 (D) Inventory 77,000 56,000 21,000 (1) Prepaid rent 3,200 5.400 2,200 (D) Accounts payable 47,000 38.000 9,000 (0) Income tax payable 5,200 11,000 5,800 (D) eBook Hint Print References Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the Indirect method. (List cash outflows and any decrease in cash as negative amounts.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile not income to net cash flows from operating activities: of the statement of cash flow outflows and any decrease in cash as negative amounts.) Book Hint PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2018 Cash flows from operating activities: Print rences Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities $ $ 0

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