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Fitz Company reports the following information 3 Selected Annual Income Statement Data Net income $382,000 Depreciation expense 49,200 Amortization expense 8,900 Gain on sale of
Fitz Company reports the following information 3 Selected Annual Income Statement Data Net income $382,000 Depreciation expense 49,200 Amortization expense 8,900 Gain on sale of plant assets 6,080 Selected Year-End Balance Sheet Data Accounts receivable decrease 5114,300 Inventory decrease 45, see Prepaid expenses increase 4,900 Accounts payable decrease 9,900 Salaries payable increase 1,300 16.66 points Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ende (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Amortization expense Gain on sale of plant assets 8,989 6,000 Prepaid expenses increase Accounts payable decrease Salaries payable increase 4,900 9,900 1,300 3 Use the indirect method to prepare the operating activities section of its statement of cash flows for the year e (Amounts to be deducted should be indicated with a minus sign.) 16.66 points Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities 0
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