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Fitz Company reports the following information. Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $ 370,000 Accounts receivable decrease $ 152,600
Fitz Company reports the following information. Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $ 370,000 Accounts receivable decrease $ 152,600 Depreciation expense 49,600 Inventory decrease 46,500 Amortization expense 7,800 Prepaid expenses increase 6,500 Gain on sale of plant assets 7,700 Accounts payable decrease 9,500 Salaries payable increase 1,700 Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31.
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