15 Exercise 12-5 Indirect: Cash flows from operating activities LO P2 Fitz Company reports the following information. Selected Annual Income Statement Data Net income Selected Year-End Balance Sheet Data $412,000 Accounts receivable decrease $139,100 Depreciation expense 47,400 Inventory decrease 46,500 Amortization expense 8,200 Prepaid expenses increase 5,800 eBook Gain on sale of plant assets. 7,500 Accounts payable decrease 9,500 Salaries payable increase 2,100 Hind Print Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) references Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities