Please do not give solution in image format thanku The following information pertains to Peak Heights Company:Income Statement for Current YearSalesExpensesCost of goods soldDepreciationexpenseSalaries expenseNet incomePartial Balance SheetAccounts receivableInventorySalaries payable$ 51,7756,90011,900$ 86,90070,575$ 16,325Cash flows from operating activities:Current year.$ 10, 20013,3001,750Required:Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method.Note: List cash outflows as negative amounts.PEAK HEIGHTS COMPANYStatement of Cash Flows (Partial)Prior year$ 15,9008,100880$0

Cash flows from operating activities is one of the important section of cash flow statement. It…

The following information pertains to Peak Heights Company: Income Statement for Current Year Sales Expenses Cost of goods sold Depreciation expense Salaries expense Net income Partial Balance Sheet Accounts receivable Inventory Salaries payable $ 51,775 6,900 11,900 Current $ 86,900 Cash flows from operating activities: 70,575 $ 16,325 year. $ 10, 200 13,300 1,750 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method Note: List cash outflows as negative amounts. PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Prior year $ 15,900 8,100 880

The following information pertains to Peak Heights Company: Income Statement for Current Year Sales Expenses Cost of goods sold Depreciation expense Salaries expense Net income Partial Balance Sheet Accounts receivable Inventory Salaries payable $ 51,775 6,900 11,900 Current $ 86,900 Cash flows from operating activities: 70,575 $ 16,325 year. $ 10, 200 13,300 1,750 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method Note: List cash outflows as negative amounts. PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Prior year $ 15,900 8,100 880

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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