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Fitz Company reports the following information. Selected Annual Income Statement Data: Net income Selected Year-End Balance Sheet Data $391,000 Accounts receivable decrease Depreciation expense
Fitz Company reports the following information. Selected Annual Income Statement Data: Net income Selected Year-End Balance Sheet Data $391,000 Accounts receivable decrease Depreciation expense 48,400 Inventory decrease Amortization expense 8,200 Prepaid expenses increase Gain on sale of plant assets 7,700 Accounts payable decrease Salaries payable increase. $36,200 42,500 6,700 9,600 1,900 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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