! Apps YouTube Maps a Amazon.com: Onlin... Access your BUS 21... Program: Business... B Grades - BUS22660... B Week 1 - ACC12260... 7 MEDIA Ch. 16 HW, part 1 (i Saved 2 Exercise 16-5 (Static) Indirect: Cash flows from operating activities LO P2 5 points Fitz Company reports the following Information. Selected Annual Income Statement Data Net income Depreciation expense Amortization expense Gain on sale of plant assets Selected Year-End Balance Sheet Data $ 374,000 Accounts receivable decrease 44,000 Inventory decrease 7,288 Prepaid expenses increase 6,080 Accounts payable decrease Salaries payable increase $ 17,100 42, eee 4,700 8,2ee 1,200 eBook Hint 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.) Print Statement of Cash Flows (partial) Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash $ 374,000 References Changes in current operating assets and liabilities $ 374,000