Business, 20.08.2020 16:01 aceccardi03

Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2018 Net sales $1,825,000 Expenses: Cost of goods sold $1,060,000 Operating expenses 570,000 Depreciation expense 51,000 Income tax expense 41,000 Total expenses 1,722,000 Net income $ 103,000 PEACH COMPUTER Selected Balance Sheet Data December 31 2018 2017 Increase (I) or Decrease (D) Cash $103,000 $85,500 $17,500 (I) Accounts receivable 45,100 49,500 4,400 (D) Inventory 76,000 55,500 20,500 (I) Prepaid rent 3,100 5,200 2,100 (D) Accounts payable 46,000 37,500 8,500 (I) Income tax payable 5,100 10,500 5,400 (D) Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the indirect method

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Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income St...

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