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Fitz Company reports the following information. Selected Annual Income Statement Data Selected YeareEnd Balance Sheet Data Net income $ 493,999 Accounts receivable decrease $ 38,699
Fitz Company reports the following information. Selected Annual Income Statement Data Selected YeareEnd Balance Sheet Data Net income $ 493,999 Accounts receivable decrease $ 38,699 Depreciation expense 49,899 Inventory decrease 45,999 Amortization expense 8,999 Prepaid expenses increase 6,799 Gain on sale of plant assets 8,999 Accounts payable decrease 9,399 Salaries payable increase 1,499 Use the indirect methodto 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.) Cash flows from operating activities _ Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash
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