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Fitz Company reports the following information Selected Annual Income Statement Data Net income $385,000 Depreciation expense 46,000 Amortization expense 7,500 Gain on sale of plant

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Fitz Company reports the following information Selected Annual Income Statement Data Net income $385,000 Depreciation expense 46,000 Amortization expense 7,500 Gain on sale of plant assets 6,900 Selected Year-End Balance Sheet Data Accounts receivable decrease $145,600 Inventory decrease 42,500 Prepaid expenses increase 5,700 Accounts payable decrease 10,600 Salaries payable increase 1,400 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) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities

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