#15 make answers small & readable

Exercise 16-5 Indirect: Cash flows from operating activities LO P2 Fitz Company reports the following information Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $376,000 Accounts receivable decrease $118,500 Depreciation expense 49,600 Inventory decrease 51,000 Amortization expense 7,900 Prepaid expenses increase 5,600 Gain on sale of plant assets 7,200 Accounts payable decrease 8,700 Salaries payable increase 2,300 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 o minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities