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Fitz Company reports the following information Selected Annual Income Statement Data Net income $385,000 Depreciation expense 46,689 Amortization expense 8,709 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 46,689 Amortization expense 8,709 Gain on sale of plant assets 6,700 Selected Year-End Balance Sheet Data Accounts receivable decrease $108,789 Inventory decrease 46,880 Prepaid expenses increase 5,600 Accounts payable decrease 9,300 Salaries payable increase 1,380 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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