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Portions of the financial statements for Peach Computer are provided below. ...

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Accounting

Portions of the financial statements for Peach Computer are provided below.

PEACH COMPUTER
Income Statement
For the year ended December 31, 2024
Net sales $1,650,000
Expenses:
Cost of goods sold $990,000
Operating expenses 500,000
Depreciation expense 44,000
Income tax expense 34,000
Total expenses 1,568,000
Net income $82,000

PEACH COMPUTER
Selected Balance Sheet Data
December 31
2024 2023 Increase (I) or Decrease (D)
Cash $96,000 $82,000 $14,000 (I)
Accounts receivable 46,600 52,000 5,400 (D)
Inventory 69,000 52,000 17,000 (I)
Prepaid rent 2,400 3,800 1,400 (D)
Accounts payable 39,000 34,000 5,000 (I)
Income tax payable 4,400 7,000 2,600 (D)

Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

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PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Cash flows from operating activities: Adjustments to reconcile net income to net cash flows from operating activities

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