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The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in thousands) for Peach Computers. PEACH COMPUTERS Income Statement For the Year Ended December 31, 2021 $ 605.0 Sales Cost of goods sold Gross margin Salaries expense Insurance expense $73.0 50.0 Depreciation expense 24.0 Loss on sale of land 22.0 Income before tax Income tax expense Net income P (242.0) 363.0 169.0 194.0 (97.0) $97.0 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 $ 97.0 24.0 22.0 26.0 (113.0) (68.0) 45.0 19.0 91.0 $ 143.0 Required: 1. Cal late 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).

The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ( $ in thousands) for Peach Computers. 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)

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