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The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in 000s) for Peach Computers. PEACH COMPUTERS Income Statement For the Year Ended December 31, 2018 Sales $ 425.0 Cost of goods sold _(170.0) Gross margin 255.0 Salaries expense $49.0 Insurance expense 26.0 Depreciation expense 12.0 Loss on sale of land 10.0 97.0 Income before tax 158.0 Income tax expense (79.0) Net income $ 79.0 $ 79.0 12.0 10.0 Reconciliation of Net Income To Net Cash Flows from Operating Activities Net income Adjustments for Noncash Effects Depreciation expense Loss on sale of land Changes in operating assets and liabilities: Decrease in accounts receivable Increase in inventory Decrease in accounts payable Increase in salaries payable Decrease in prepaid insurance Increase in income tax payable Net cash flows from operating activities 14.0 (53.0) (32.0) 21.0 13.0 75.4 $139.4 Required: 1. Calculate each of the following amounts for Peach Computers: 2. Prepare the cash flows from operating activities section of the statement of cash flows (direct method) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate each of the following amounts for Peach Computers: (Enter your answers in thousands rounded to 1 decimal place (i.e., 5,500 should be entered as 5.5). Cash outflows must be indicated with a minus sign.) a. C. Cash received from customers during the reporting period. Cash paid to suppliers of goods during the reporting period. Cash paid to employees during the reporting period. Cash paid for insurance during the reporting period. Cash paid for income taxes during the reporting period. Required: 1. Calculate each of the following amounts for Peach Computers: 2. Prepare the cash flows from operating activities section of the statement of cash flows (direct method). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the cash flows from operating activities section of the statement of cash flows (direct method). (Enter your answers in thousands rounded to 1 decimal place (i.e., 5,500 should be entered as 5.5). Amounts to be deducted should be indicated with a minus sign.) Cash Flows from Operating Activities: Net cash flows from operating activities Required 1 Required 2 >

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