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Fitz Company reports the following information. Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $412,008 Accounts receivable decrease $148,200 Depreciation expense

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Fitz Company reports the following information. Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $412,008 Accounts receivable decrease $148,200 Depreciation expense 45,400 Inventory decrease 50,000 Amortization expense 7,302 Prepaid expenses increase 5,900 Gain on sale of plant assets 7,880 Accounts payable decrease 11,000 Salaries payable increase 2,500 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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